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Study of a Market Model with Conservative Exchanges on Complex Networks

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  • L. A. Braunstein
  • P. A. Macri
  • J. R. Iglesias
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    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: Erd\"{o}s-R\'enyi 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.

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    File URL: http://arxiv.org/pdf/1212.1061
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    Bibliographic Info

    Paper provided by arXiv.org in its series Papers with number 1212.1061.

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    Date of creation: Dec 2012
    Date of revision: Feb 2013
    Publication status: Published in Physica A, 392, 1788-1794 (2013)
    Handle: RePEc:arx:papers:1212.1061

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