Laser Welfare: First Steps in Econodynamic Engineering
AbstractThe paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of alternative energy distributions found in physical systems are discussed, and how they could be used to construct economic models that might allow alternative overall distributions of wealth and income in society. These ideas are further expanded and a more detailed scheme for welfare assistance is proposed that might be used to improve the incomes of the poorest in a more efficient way than traditional welfare schemes. Finally, and unusually for a paper on economics; an experiment is proposed that could be used to either support or disprove the ideas discussed in the rest of the paper.
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0408003.
Length: 26 pages
Date of creation: 19 Aug 2004
Date of revision:
Note: Type of Document - pdf; pages: 26 , 7
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Income distribution; Welfare; Boltzmann distribution; econophysics; econodynamics;
Other versions of this item:
- G. Willis, 2004. "Laser Welfare: First Steps in Econodynamic Engineering," Papers cond-mat/0408227, arXiv.org.
- D1 - Microeconomics - - Household Behavior
- D2 - Microeconomics - - Production and Organizations
- D3 - Microeconomics - - Distribution
- D4 - Microeconomics - - Market Structure and Pricing
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-08-23 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- G. Willis & J. Mimkes, 2004.
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- repec:sfi:sfiwpa:500026 is not listed on IDEAS
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- Sorin Solomon & Peter Richmond, 2001. "Power Laws of Wealth, Market Order Volumes and Market Returns," Papers cond-mat/0102423, arXiv.org, revised Apr 2001.
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