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Influence of saving propensity on the power law tail of wealth distribution

Listed author(s):
  • Marco Patriarca
  • Anirban Chakraborti
  • Guido Germano

Some general features of kinetic multi-agent models are reviewed, with particular attention to the relation between the agent saving propensities and the form of the equilibrium wealth distribution. The effect of a finite cutoff of the saving propensity distribution on the corresponding wealth distribution is studied. Various results about kinetic multi-agent models are collected and used to construct a realistic wealth distribution with zero limit for small values of wealth, an exponential form at intermediate and a power law tail at larger values of wealth.

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Paper provided by in its series Papers with number physics/0506028.

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Date of creation: Jun 2005
Publication status: Published in Physica A 369 (2), 723-736, 2006
Handle: RePEc:arx:papers:physics/0506028
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