Uncertainty dynamics in a model of economic inequality

Bertotti, Maria Letizia; Chattopadhyay, Amit K.; Modanese, Giovanni

doi:10.2495/dne-v13-n1-16-22

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Dependence Of the Correlations On The Total Income And On1

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2018

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“…Note that for values of G much smaller than usual, even the

correlation can become positive: see Figure 1 , obtained with the mixed noise introduced in [ 21 ] and extending to the (unrealistic) value of

. In order to obtain a meaningful diagram, one needs to generate a large number of distinct initial conditions for the stochastic equations, each one having a different value of

.…”

Section: Dependence Of the Correlations On The Total Income And Onmentioning

confidence: 91%

Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange

Bertotti

Chattopadhyay

Modanese

2018

Entropy

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In our recently proposed stochastic version of discretized kinetic theory, the exchange of wealth in a society is modelled through a large system of Langevin equations. The deterministic part of the equations is based on non-linear transition probabilities between income classes. The noise terms can be additive, multiplicative or mixed, both with white or Ornstein-Uhlenbeck spectrum. The most important measured correlations are those between Gini inequality index G and social mobility M, between total income and G, and between M and total income. We describe numerical results concerning these correlations and a quantity which gives average stochastic deviations from the equilibrium solutions in dependence on the noise amplitude.

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“…Note that for values of G much smaller than usual, even the

correlation can become positive: see Figure 1 , obtained with the mixed noise introduced in [ 21 ] and extending to the (unrealistic) value of

. In order to obtain a meaningful diagram, one needs to generate a large number of distinct initial conditions for the stochastic equations, each one having a different value of

.…”

Section: Dependence Of the Correlations On The Total Income And Onmentioning

confidence: 91%