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Evolutionary dynamics of social inequality and coincidence of Gini and Kolkata indices under unrestricted competition

Author

Listed:
  • Suchismita Banerjee

    (Economic Research Unit, Indian Statistical Institute, Kolkata 700108, West Bengal, India)

  • Soumyajyoti Biswas

    (Department of Physics, SRM University-AP, Andhra Pradesh - 522240, India)

  • Bikas K. Chakrabarti

    (Economic Research Unit, Indian Statistical Institute, Kolkata 700108, West Bengal, India3Saha Institute of Nuclear Physics, Kolkata 700064, West Bengal, India)

  • Sai Krishna Challagundla

    (Department of Computer Science and Engineering, SRM University-AP, Andhra Pradesh-522240, India)

  • Asim Ghosh

    (Department of Physics, Raghunathpur College, Raghunathpur, Purulia 723133, West Bengal, India)

  • Suhaas Reddy Guntaka

    (Department of Computer Science and Engineering, SRM University-AP, Andhra Pradesh-522240, India)

  • Hanesh Koganti

    (Department of Computer Science and Engineering, SRM University-AP, Andhra Pradesh-522240, India)

  • Anvesh Reddy Kondapalli

    (Department of Computer Science and Engineering, SRM University-AP, Andhra Pradesh-522240, India)

  • Raju Maiti

    (Economic Research Unit, Indian Statistical Institute, Kolkata 700108, West Bengal, India)

  • Manipushpak Mitra

    (Economic Research Unit, Indian Statistical Institute, Kolkata 700108, West Bengal, India)

  • Dachepalli R. S. Ram

    (Department of Physics, SRM University-AP, Andhra Pradesh - 522240, India)

Abstract

Social inequalities are ubiquitous, and here we show that the values of the Gini (g) and Kolkata (k) indices, two generic inequality indices, approach each other (starting from g=0 and k=0.5 for equality) as the competitions grow in various social institutions like markets, universities and elections. It is further shown that these two indices become equal and stabilize at a value (at g=k≃0.87) under unrestricted competitions. We propose to view this coincidence of inequality indices as a generalized version of the (more than a) century old 80-20 law of Pareto. Furthermore, the coincidence of the inequality indices noted here is very similar to the ones seen before for self-organized critical (SOC) systems. The observations here, therefore, stand as a quantitative support toward viewing interacting socio-economic systems in the framework of SOC, an idea conjectured for years.

Suggested Citation

  • Suchismita Banerjee & Soumyajyoti Biswas & Bikas K. Chakrabarti & Sai Krishna Challagundla & Asim Ghosh & Suhaas Reddy Guntaka & Hanesh Koganti & Anvesh Reddy Kondapalli & Raju Maiti & Manipushpak Mit, 2023. "Evolutionary dynamics of social inequality and coincidence of Gini and Kolkata indices under unrestricted competition," International Journal of Modern Physics C (IJMPC), World Scientific Publishing Co. Pte. Ltd., vol. 34(04), pages 1-29, April.
    • Handle: RePEc:wsi:ijmpcx:v:34:y:2023:i:04:n:s0129183123500481
    DOI: 10.1142/S0129183123500481
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    Cited by:

    1. Biró, Tamás S. & Telcs, András & Józsa, Máté & Néda, Zoltán, 2023. "Gintropic scaling of scientometric indexes," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 618(C).

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