69 citations · 129 across the 6 of their papers we have counts for
6 papers
Exponential Structure of Income Inequality: Evidence from 67 Countries
Yong Tao, Xiangjun Wu, Tao Zhou +5
Economic competition between humans leads to income inequality, but, so far, there has been little understanding of underlying quantitative mechanisms governing such a collective b…
Universal Laws of Human Society's Income Distribution
Yong Tao
General equilibrium equations in economics play the same role with many-body Newtonian equations in physics. Accordingly, each solution of the general equilibrium equations can be…
Rawls' Fairness, Income Distribution and Alarming Level of Gini Coefficient
Yong Tao, Xiangjun Wu, Changshuai Li
The argument that the alarming level of Gini coefficient is 0.4 is very popular, especially in the media industry, all around the world for a long time. Although the 0.4 standard i…
Spontaneous Economic Order
Yong Tao
This paper provides an attempt to formalize Hayek's notion of spontaneous order within the framework of the Arrow-Debreu economy. Our study shows that if a competitive economy is e…
How to predict and avert economic crisis
Yong Tao
Our study shows that many firms would accumulate at zero output level (namely, Bankruptcy status) if a perfectly competitive market reaches full employment (namely, those people wh…
Competitive market for multiple firms and economic crisis
Yong Tao
The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, o…