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Exchanges in complex networks: income and wealth distributions

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  • T. Di Matteo
  • T. Aste
  • S. T. Hyde
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    Abstract

    We investigate the wealth evolution in a system of agents that exchange wealth through a disordered network in presence of an additive stochastic Gaussian noise. We show that the resulting wealth distribution is shaped by the degree distribution of the underlying network and in particular we verify that scale free networks generate distributions with power-law tails in the high-income region. Numerical simulations of wealth exchanges performed on two different kind of networks show the inner relation between the wealth distribution and the network properties and confirm the agreement with a self-consistent solution. We show that empirical data for the income distribution in Australia are qualitatively well described by our theoretical predictions.

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    File URL: http://arxiv.org/pdf/cond-mat/0310544
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    Bibliographic Info

    Paper provided by arXiv.org in its series Papers with number cond-mat/0310544.

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    Date of creation: Oct 2003
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    Publication status: Published in in "The Physics of Complex Systems (New Advances and Perspectives)", Eds. F. Mallamace and H. E. Stanley, (IOS Press, Amsterdam 2004) 435.
    Handle: RePEc:arx:papers:cond-mat/0310544

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    Web page: http://arxiv.org/

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    Cited by:
    1. F. Clementi & M. Gallegati, 2005. "Pareto's Law of Income Distribution: Evidence for Germany, the United Kingdom, and the United States," Papers physics/0504217, arXiv.org, revised Mar 2006.
    2. Wright, Ian, 2009. "Implicit Microfoundations for Macroeconomics," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 3(19), pages 1-27.

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