Wealth redistribution with finite resources

Details Wealth redistribution with finite resources Wealth redistribution with finite resources

2001-09-14

arxiv.org/abs/nlin/0109015v1

Physica A, 322, 667-675 (2003)

Nonlinear Sciences

Adaptation and Self-Organizing Systems

4 pages, 3 figures, RevTeX 4 style

Scientific paper

10.1016/S0378-4371(02)01737-5

We present a simplified model for the exploitation of finite resources by interacting agents, where each agent receives a random fraction of the available resources. An extremal dynamics ensures that the poorest agent has a chance to change its economic welfare. After a long transient, the system self-organizes into a critical state that maximizes the average performance of each participant. Our model exhibits a new kind of wealth condensation, where very few extremely rich agents are stable in time and the rest stays in the middle class.

Affiliated with

Also associated with

No associations

Rating

Wealth redistribution with finite resources 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 Wealth redistribution with finite resources, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Wealth redistribution with finite resources will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFWR-SCP-O-258681