Models of wealth distributions: a perspective

Details Models of wealth distributions: a perspective Models of wealth distributions: a perspective

2006-04-20

arxiv.org/abs/physics/0604161v2

Physics

Physics and Society

(Replaced with some minor corrections; typos and etc.) Review article; 14 pages, 13 eps figures; Revtex4 (an updated version o

Scientific paper

A class of conserved models of wealth distributions are studied where wealth (or money) is assumed to be exchanged between a pair of agents in a population like the elastically colliding molecules of a gas exchanging energy. All sorts of distributions from exponential (Boltzmann-Gibbs) to something like Gamma distributions and to that of Pareto's law (power law) are obtained out of such models with simple algorithmic exchange processes. Numerical inevstigations, analysis through transition matrix and a mean field approach are employed to understand the generative mechanisms. A general scenario is examined wherefrom a power law and other distributions can emerge.

Affiliated with

Also associated with

No associations

Rating

Models of wealth distributions: a perspective does not yet have a rating. At this time, there are no reviews or comments for this scientific paper.

If you have personal experience with Models of wealth distributions: a perspective, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Models of wealth distributions: a perspective will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFWR-SCP-O-67233