A Simple Mechanism Causing Wealth Concentration

Detecting a change in wealth concentration without the knowledge of the wealth distribution

Consumption is commonly used as a proxy for permanent income. We go a step further by establishing the link between the distribution of consumption and that of permanent income in terms of dominance orderings. We introduce two new dominance orderings, the Generalized Top Lorenz test and the related affluence ordering. If consumption is a concave function of permanent income, we get an indirect ...

Media Capture in a Democracy: The Role of Wealth Concentration

Since objective news coverage is vital to democracy, captured media can seriously distort collective decisions. The current paper develops a voting model where citizens are uncertain about the welfare e¤ects induced by alternative policy options and derive information about those e¤ects from the mass media. The media might however secretly collude with interest groups in order to in‡uence the p...

Wealth condensation in a simple model of economy

We introduce a simple model of economy, where the time evolution is described by an equation capturing both exchange between individuals and random speculative trading, in such a way that the fundamental symmetry of the economy under an arbitrary change of monetary units is insured. We investigate a mean-field limit of this equation and show that the distribution of wealth is of the Pareto (pow...

Arginine: a Concentration Dependent Mechanism

Bovine β-lactoglobulin (β-lg), consisting of pronounced β-sheet content, have been chosen as a model protein which on prolonged thermal treatment forms large molecular aggregates similar to Alzheimer’s type amyloid fibrils. The effects of L-arginine (free base) in thermal aggregation process of β-lg were monitored at varying concentrations. Concentration dependent opposite behaviour has been re...

Non-uniform Wealth Distribution in a Simple Spatial Banking Model