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Parameter Estimation and Measurement of Social Inequality in a Kinetic Model for Wealth Distribution

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Listed:
  • Bruno Adolfo Buffa

    (CIEM-CONICET and FaMAF, Universidad Nacional de Córdoba, Cordoba 5000, Argentina
    These authors contributed equally to this work.)

  • Damián Knopoff

    (CIEM-CONICET and FaMAF, Universidad Nacional de Córdoba, Cordoba 5000, Argentina
    These authors contributed equally to this work.)

  • Germán Torres

    (IMIT-CONICET and FaCENA, Universidad Nacional del Nordeste, Corrientes 3400, Argentina
    These authors contributed equally to this work.)

Abstract

This paper deals with the modeling of wealth distribution considering a society with non-constant population and non-conservative wealth trades. The modeling approach is based on the kinetic theory of active particles, where individuals are distinguished by a scalar variable (the activity) which expresses their social state. A qualitative analysis of the model focusing on asymptotic behaviors and measurement of inequality through the Gini coefficient is presented. Finally, some specific case-studies are proposed in order to carry out numerical experiments to validate our model, characterize societies and investigate emerging behaviors.

Suggested Citation

  • Bruno Adolfo Buffa & Damián Knopoff & Germán Torres, 2020. "Parameter Estimation and Measurement of Social Inequality in a Kinetic Model for Wealth Distribution," Mathematics, MDPI, vol. 8(5), pages 1-21, May.
    • Handle: RePEc:gam:jmathe:v:8:y:2020:i:5:p:786-:d:357430
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    References listed on IDEAS

    as
    1. Mariacristina De Nardi & Giulio Fella, 2017. "Saving and Wealth Inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 26, pages 280-300, October.
    2. Erez Hatna & Itzhak Benenson, 2012. "The Schelling Model of Ethnic Residential Dynamics: Beyond the Integrated - Segregated Dichotomy of Patterns," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 15(1), pages 1-6.
    3. Marina Dolfin & Dami'an Knopoff & Leone Leonida & Dario Maimone Ansaldo Patti, 2015. "Escaping the trap of 'blocking': a kinetic model linking economic development and political competition," Papers 1602.08442, arXiv.org.
    4. Chakrabarti,Bikas K. & Chakraborti,Anirban & Chakravarty,Satya R. & Chatterjee,Arnab, 2013. "Econophysics of Income and Wealth Distributions," Cambridge Books, Cambridge University Press, number 9781107013445.
    5. Victor M. Yakovenko & J. Barkley Rosser, 2009. "Colloquium: Statistical mechanics of money, wealth, and income," Papers 0905.1518, arXiv.org, revised Dec 2009.
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