Class formation in a social network with asset exchange

Details Class formation in a social network with asset exchange Class formation in a social network with asset exchange

2009-05-29

arxiv.org/abs/0905.4793v2

Economy

Quantitative Finance

Trading and Market Microstructure

10 pages, 14 figures in pdf format, accepted in Physica A

Scientific paper

We study two kinds of economic exchange, additive and multiplicative, in a system of N agents. The work is divided in two parts, in the first one, the agents are free to interact with each other. The system evolves to a Boltzmann-Gibbs distribution with additive exchange and condenses with a multiplicative one. If bankruptcy is introduced, both types of exchange lead to condensation. Condensation times have been studied. In the second part, the agents are placed in a social network. We analyze the behavior of wealth distributions in time, and the formation of economic classes was observed for certain values of network connectivity.

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