Power law distribution from "summary" of The Longer Long Tail by Chris Anderson
Power law distribution is a mathematical concept that describes a certain kind of data pattern. It's a way of understanding how things are distributed in the world, from income to internet traffic to popularity. At its core, power law distribution is about the unequal distribution of things. In a power law distribution, a small number of things account for the majority of the total. This means that a few items are extremely popular or successful, while the vast majority are much less so.
The power law distribution is a stark contrast to the more familiar bell curve distribution, where most things cluster around the average. Instead of a smooth, symmetrical curve, a power law distribution is lopsided, with a long tail trailing off to the right. This long tail represents the many less popular or successful items that make up the rest of the distribution. The power law distribution shows that the world is not a level playing field. Some things are simply more popular or successful than others, and this pattern is consistent across a wide range of phenomena.
One key characteristic of power law distribution is its scale invariance. This means that the same distribution pattern holds regardless of the scale at which it is measured. Whether we are looking at a global scale or a local scale, the same power law distribution emerges. This universality of the power law distribution is a testament to its fundamental nature and its relevance in understanding the world around us.
Understanding power law distribution can have important implications for various fields, from business to economics to sociology. By recognizing the unequal distribution of things and the long tail of less popular items, we can better grasp the dynamics at play in our society. This insight can inform strategies for businesses looking to tap into niche markets or policymakers seeking to address disparities in wealth or opportunities. In short, power law distribution is a powerful tool for making sense of the complex and often uneven distribution of resources and attention in our world.
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