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Study of a market model with conservative exchanges on complex networks

Author

Listed:
  • Braunstein, Lidia A.
  • Macri, Pablo A.
  • Iglesias, J.R.

Abstract

Many models of market dynamics make use of the idea of conservative wealth exchanges among economic agents. A few years ago an exchange model using extremal dynamics was developed and a very interesting result was obtained: a self-generated minimum wealth or poverty line. On the other hand, the wealth distribution exhibited an exponential shape as a function of the square of the wealth. These results have been obtained both considering exchanges between nearest neighbors or in a mean field scheme. In the present paper we study the effect of distributing the agents on a complex network. We have considered archetypical complex networks: Erdös–Rényi random networks and scale-free networks. The presence of a poverty line with finite wealth is preserved but spatial correlations are important, particularly between the degree of the node and the wealth. We present a detailed study of the correlations, as well as the changes in the Gini coefficient, that measures the inequality, as a function of the type and average degree of the considered networks.

Suggested Citation

  • Braunstein, Lidia A. & Macri, Pablo A. & Iglesias, J.R., 2013. "Study of a market model with conservative exchanges on complex networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(8), pages 1788-1794.
    • Handle: RePEc:eee:phsmap:v:392:y:2013:i:8:p:1788-1794
    DOI: 10.1016/j.physa.2012.12.030
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    Cited by:

    1. Meng, Xiangyi & Zhang, Jian-Wei & Guo, Hong, 2016. "Quantum Brownian motion model for the stock market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 452(C), pages 281-288.
    2. Wang, Xiaoyang & Wang, Ying & Zhu, Lin & Li, Chao, 2016. "A novel approach to characterize information radiation in complex networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 452(C), pages 94-105.

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