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We discuss superstatistics theory of labour productivity. Productivity distribution across workers, firms and industrial sectors are studied empirically and found to obey power-distributions, in sharp contrast to the equilibrium theories of mainstream economics. The Pareto index is found to decrease with the level of aggregation, {\it i.e.}, from workers to firms and to industrial sectors. In order to explain these phenomenological laws, we propose a superstatistics framework, where the role of the fluctuating temperature is played by the fluctuating demand.
13 pages including figures
FOS: Economics and business, Physics - Physics and Society, Statistical Finance (q-fin.ST), Quantitative Finance - Statistical Finance, FOS: Physical sciences, Physics and Society (physics.soc-ph), Quantitative Finance - General Finance, General Finance (q-fin.GN)
FOS: Economics and business, Physics - Physics and Society, Statistical Finance (q-fin.ST), Quantitative Finance - Statistical Finance, FOS: Physical sciences, Physics and Society (physics.soc-ph), Quantitative Finance - General Finance, General Finance (q-fin.GN)
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | 19 | |
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influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically). | Top 10% | |
impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network. | Top 10% |