This paper explores the foundations and properties of the quantal response statistical equilibrium (QRSE) model developed by Scharfenaker and Foley (2017). The QRSE model provides a behavioral foundation for the formation of aggregate economic outcomes in social systems characterized by negative...

Economic systems produce robust statistical patterns in key sate variables including prices and incomes. Statistical equilibrium methods explain the distributional proper- ties of state variables as arising from specific institutional and behavioral postulates. Two traditions have developed in...

In this paper, we present new findings that validate earlier literature on the apparent segmentation of the US earnings distribution. Previous contributions posited that the observed distribution of earnings combined two or three distinct signals and was thus appropriately modeled as a finite...