Random exchange models and the distribution of wealth
نویسندگان
چکیده
منابع مشابه
Wealth distribution of simple exchange models coupled with extremal dynamics
Punctuated Equilibrium (PE) states that after long periods of evolutionary quiescence, species evolution can take place in short time intervals, where sudden differentiation makes new species emerge and some species extinct. In this paper, we introduce and study the effect of punctuated equilibrium on two different asset exchangemodels: the yard sale model (YS, winner gets a random fraction of ...
متن کاملAsset-Exchange Model and wealth distribution
The scientific study of economic inequality has drawn a major interest due to the ever growing uneven distribution of wealth within the whole society. According to Oxfam International, in 2010, 388 individuals holds as much wealth as half of the world population. And this number has, in 2016, decreased to 62 individuals (Hardoon and Ayele, 2016). It is a very important but extremely hard proble...
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In this paper we review some of the computable general equilibrium models based on unin-surable shocks to earnings that can be used to account for diierences in wealth holdings across households. We explore their ability to generate the key properties of the data (which we summarize by (a) a very small amount of wealth among the poorest 40% of the population (about 2% of total wealth), (b) a ve...
متن کاملWealth distributions in asset exchange models
A model for the evolution of the wealth distribution in an economically interacting population is introduced, in which a specified amount of assets are exchanged between two individuals when they interact. The resulting wealth distributions are determined for a variety of exchange rules. For “random” exchange, either individual is equally likely to gain in a trade, while “greedy” exchange, the ...
متن کاملThe Question of Relaxation in the Wealth Exchange Models
We look at the meaning of ’relaxation’ in the wealth exchange models that are recently proposed in Econophysics to interpret the wealth distributions. To quantify and characterise the process of relaxation, we define an appropriate quantity and evaluate that numerically for the systems of many agents. Also, it has been supported heuristically by constructing a simple differential equation. Intr...
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ژورنال
عنوان ژورنال: The European Physical Journal Special Topics
سال: 2016
ISSN: 1951-6355,1951-6401
DOI: 10.1140/epjst/e2016-60162-3