“…The assumption of a Pareto distribution is widely used in studying the distribution of income (see, e.g., Feenberg and Poterba, ; Piketty, ; Piketty and Saez, ) and wealth (e.g., Kopczuk and Saez, ; Alvaredo and Saez, ; Bach et al ., , ; Durán‐Cabré and Esteller‐Moré, ; Bach and Beznoska, ; Eckerstorfer et al ., ; Vermeulen, ).…”