Budget Allocation As Random Redistribution
We study the budget allocation of a funding agent. We analyse data from two different divisions of National Science Council in Taiwan. We show that both the distribution and the fluctuation can be described by a process of random redistribution. The emergence of power-law tail can be related to the strength of redistribution. As the redistribution weakened, the big-budget projects emerge more abundantly. The relevance of stochastic dynamics in a bottom-up peer-reviewed process is discussed.
Keywords - Econophysics, Monetary Distribution, Stochastic Process, Power-law Distribution..