Asset-Exchange Model and wealth distribution

نویسنده

  • Shan Huang
چکیده

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 problem to analyze, explain and give prediction to the wealth distribution in human society because in reality this involves all di↵erent kinds of economic activities and has also a deep relationship with government policies on wealth redistribution, which varies from nation to nation. Finding a model simple enough but still keep track of the main characteristic of human wealth distribution which allows people to not only explain the inequality but also investigate the dynamic of wealth has been a long desire.

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

An Analysis to Wealth Distribution Based on Sugarscape Model in an Artificial Society

 In this paper an artificial society is being assumed as a multi agents system. A sugarscape model consisting of a cellular landscape of resources is used to form an interaction among the agents of the population. In the model, agents find the resources to survive. They are supposed to move and search and because of this movement, an evolutionary social behavior will develope. From model analys...

متن کامل

Wealth 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 کامل

Effects of introduction of new resources and fragmentation of existing resources on limiting wealth distribution in asset exchange models

Pareto law, which states that wealth distribution in societies has a power-law tail, has been the subject of intensive investigations in the statistical physics community. Several models have been employed to explain this behavior. However, most of the agent based models assume the conservation of number of agents and wealth. Both these assumptions are unrealistic. In this paper, we study the l...

متن کامل

ar X iv : 0 90 2 . 20 65 v 1 [ q - fi n . T R ] 1 2 Fe b 20 09 Emergence of Power Law in a Market with Mixed Models

We investigate the problem of wealth distribution from the viewpoint of asset exchange. Robust nature of Pareto’s law across economies, ideologies and nations suggests that this could be an outcome of trading strategies. However, the simple asset exchange models fail to reproduce this feature. A yardsale(YS) model in which amount put on the bet is a fraction of minimum of the two players leads ...

متن کامل

Wealth Distribution in an Asset Pricing Model: the Role of the Switching Mechanism

We present an asset pricing model with heterogeneous agents trading in a Walrasian scenario. Fractions of agents are updated at any time and their wealth is updated not only as a consequence of portfolio growth of agents adopting the same strategy, but also due to the flow of new agents. After introducing the belief types, rational and chartists, the model is built to investigate the role of th...

متن کامل

The Rich Are Different ! Pareto Law from asymmetric interactions in asset exchange models

It is known that asset exchange models with symmetric interaction between agents show either a Gibbs/log-normal distribution of assets among the agents or condensation of the entire wealth in the hands of a single agent, depending upon the rules of exchange. Here we explore the effects of introducing asymmetry in the interaction between agents with different amounts of wealth (i.e., the rich be...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2017