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

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

2005-06-03

arxiv.org/abs/physics/0506028v1

Physica A 369, 723-736 (2006)

Physics

Physics and Society

9 pages, 6 figures. To be presented at the WEHIA 2005, University of Essex, United Kingdom on June 13-15, 2005

Scientific paper

10.1016/j.physa.2006.01.091

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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