Models of Wealth Distributions – A Perspective

Gupta, Abhijit

doi:10.1002/9783527610006.ch6

Cited by 19 publications

(30 citation statements)

References 31 publications

(64 reference statements)

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“…We refer readers to [20] for an extensive review of this direction. In such a model, two randomly selected nodes and exchange their wealth: at time , node loses some amount of its wealth to node and the sum of their wealth remains constant before and after such an interaction, i.e., for all .…”

Section: Discussionmentioning

confidence: 99%

“…The former objective can be achieved by using an interaction-based or exchange-based wealth evolution process [20], which can produce a variety of degree distributions besides the traditional power-law. The latter objective can be implemented by adjusting the length of random walks for finding neighbors, which leads to different levels of locality and thus clustering.…”

Section: Possible Extensionsmentioning

confidence: 99%

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Understanding and Modeling the Internet Topology: Economics and Evolution Perspective

Wang

Loguinov

2010

IEEE/ACM Trans. Networking

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Abstract-In this paper, we seek to understand the intrinsic reasons for the well-known phenomenon of heavy-tailed degree in the Internet AS graph and argue that in contrast to traditional models based on preferential attachment and centralized optimization, the Pareto degree of the Internet can be explained by the evolution of wealth associated with each ISP. The proposed topology model utilizes a simple multiplicative stochastic process that determines each ISP's wealth at different points in time and several "maintenance" rules that keep the degree of each node proportional to its wealth. Actual link formation is determined in a decentralized fashion based on random walks, where each ISP individually decides when and how to increase its degree. Simulations show that the proposed model, which we call Wealth-based Internet Topology (WIT), produces scale-free random graphs with tunable exponent and high clustering coefficients (between 0.35 and 0.5) that stay invariant as the size of the graph increases. This evolution closely mimics that of the Internet observed since 1997.

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Section: Discussionmentioning

confidence: 99%

Section: Possible Extensionsmentioning

confidence: 99%

Understanding and Modeling the Internet Topology: Economics and Evolution Perspective

Wang

Loguinov

2010

IEEE/ACM Trans. Networking

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“…The steady state wealth distribution gave rise to a power law tail with exponent 2. Various studies on the CCM model have been made soon after [37,38,39,40,41,42,43,44]. Manna et.…”

Section: Model With Distributed Savingsmentioning

confidence: 99%

Kinetic Exchange Models in Economics and Sociology

Goswami

Chakraborti

2015

Springer Proceedings in Mathematics &Amp; Statistics

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In this article, we briefly review the different aspects and applications of kinetic exchange models in economics and sociology. Our main aim is to show in what manner the kinetic exchange models for closed economic systems were inspired by the kinetic theory of gas molecules. The simple yet powerful framework of kinetic theory, first proposed in 1738, led to the successful development of statistical physics of gases towards the end of the 19th century. This framework was successfully adapted to modeling of wealth distributions in the early 2000's. In later times, it was applied to other areas like firm dynamics and opinion formation in the society, as well. We have tried to present the flavour of the several models proposed and their applications, intentionally leaving out the intricate mathematical and technical details.

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“…Previous attempts, both from a numerical point of view [21], and theoretical ones [28,30], were in fact able to describe the case in which ε is a random number with uniform distribution on (0, 1). In this case the individual wealth distribution at equilibrium emerges out to be the exponential distribution.…”

Section: Wealth Distribution By Pure Gamblingmentioning

confidence: 99%

Explicit equilibria in bilinear kinetic models for socio-economic interactions

Bassetti

Toscani

2014

ESAIM: Proc.

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Abstract. Bilinear kinetic models of Maxwell-Boltzmann type are often used to model socio-economic systems composed by agents that undergo binary interactions, which in general obey to some conservation law. Then, the details of the microscopic interaction are such that an equilibrium solution emerges. At difference with the classical Boltzmann equation for elastic gas particles, the analytic form of the equilibria is known only in some particular case. In the present note, we present and discuss the situations in which this equilibrium profile can be explicitly found. Applications to dissipative gases and to wealth redistribution models are presented.Résumé. Des modèles cinétiques bilinéaire de type Maxwell-Boltzmann sont souvent utilisés pour modéliser des systèmes socio-économiques composées d'agents soumisà des interactions binaires. Ces modèles obéissent en généralà une loi de conservation. Les détails microscopique de l'interaction conduisent le système vers un profil d'équilibre (une solution stationnaire).À la différence de l'équation de Boltzmann classique pour les particules de gazélastiques, la forme analytique de la solution stationnaire n'est connue que dans certains cas particuliers. Dans cette note, nous présentons et discutons des situations pour lesquelles ce profil d'équilibre peutêtre trouvé explicitement. Des applicationsà des gaz dissipatifs età des modèles de redistribution de richesse sont présentées.

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Models of Wealth Distributions – A Perspective

Cited by 19 publications

References 31 publications

Understanding and Modeling the Internet Topology: Economics and Evolution Perspective

Understanding and Modeling the Internet Topology: Economics and Evolution Perspective

Kinetic Exchange Models in Economics and Sociology

Explicit equilibria in bilinear kinetic models for socio-economic interactions

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