Economics
Extension of the Kelly Criterion in Gambling: CRRA-type Utility Function
In this article, we extend the Kelly criterion to a more general utility function (CRRA-type utility function) and explain how to determine a betting portfolio based on a gambler's risk aversion.
Pareto Principle
There was apparently an empirical rule that the top 20% of people in a nation account for 80% of the income. This rule is known as the Pareto Principle.