{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/69496e27f756711739d06e78/6a192d8671443cf04aeeceaf?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"10: the 1981 blueprint for superstar wealth","description":"<p>Our motivation:</p><p>In 1981, Rosen introduced a mathematical model to analyse how the emergence of superstars would affect the income distribution. With the internet and globalization, his paper might be more relevant today than ever before. </p><p><br></p><p>Abstract:</p><p>The phenomenon of Superstars, wherein relatively small numbers of people earn enormous amounts of money and dominate the activities in which they engage, seems to be increasingly important in the modern world. While some may argue that it is all an illusion of world inflation, its currency may be signaling a deeper issue.1 Realizing that world inflation may command the title, if not the content of this paper, quickly to the scrap heap, I have found no better term to describe the phenomenon. In certain kinds of economic activity there is concentration of output among a few individuals, marked skewness in the associated distributions of income and very large rewards at the top.</p><p><br></p><p>Reference: </p><p>Rosen, S. (1981). The Economics of Superstars. The American Economic Review, 71(5),</p><p>845–858. <a href=\"http://www.jstor.org/stable/1803469\" rel=\"noopener noreferrer\" target=\"_blank\">http://www.jstor.org/stable/1803469</a></p>","author_name":"Joakim Wernberg"}