Wealth redistribution in our small world
AbstractWe present a simplified model for the exploitation of resources by interacting agents, in an economy with small-world properties. It is shown that Gaussian distributions of wealth, with some cutoff at a poverty line are present for all values of the parameters, while the frequency of maxima and minima strongly depends on the connectivity and the disorder of the lattice. Finally, we compare a system where the commercial links are frozen with an economy where agents can choose their commercial partners at each time step.
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Bibliographic InfoArticle provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.
Volume (Year): 327 (2003)
Issue (Month): 1 ()
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Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
Econophysics; Wealth distribution; Extremal dynamics; Small worlds;
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- Sebastian D. Guala, 2008. "Taxes in a simple wealth distribution model by inelastically scattering particles," Papers 0807.4484, arXiv.org.
- J. R. Iglesias & R. M. C. de Almeida, 2011. "Entropy and equilibrium state of free market models," Papers 1108.5725, arXiv.org.
- Braun, Dieter, 2006. "Nonequilibrium thermodynamics of wealth condensation," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 369(2), pages 714-722.
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