Wealth redistribution with conservative exchanges

Pianegonda, Salete; Iglesias, J. R.; Abramson, Guillermo; Vega, J. L.

doi:10.1016/s0378-4371(02)01737-5

Cited by 50 publications

(58 citation statements)

References 15 publications

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“…Both of these schemes are formalized by a kinetic equation describing the exchange of wealth between agents and global redistribution of wealth which plays the role of repelling from zero. Related approaches were subsequently pursued by a number of studies and simulations [24,25,26,27,28,29,30,31,32,33,34,35, * Electronic address: slanina@fzu.cz 36,37,38,39,40].…”

Section: Introductionmentioning

confidence: 99%

Inelastically scattering particles and wealth distribution in an open economy

2004

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Section: Introductionmentioning

confidence: 99%

Inelastically scattering particles and wealth distribution in an open economy

2004

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“…This death-birth process is analogous to the so called extremal dynamics principle [1] applied to e.g. models of the wealth distribution [12] and stock markets [7].…”

Section: Firm Growthmentioning

confidence: 99%

Statistical properties of agent-based market area model

Kuscsik

Horváth

2012

Unifying Themes in Complex Systems VII

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One dimensional stylized model taking into account spatial activity of firms with uniformly distributed customers is proposed. The spatial selling area of each firm is defined by a short interval cut out from selling space (large interval). In this representation, the firm size is directly associated with the size of its selling interval.The recursive synchronous dynamics of economic evolution is discussed where the growth rate is proportional to the firm size incremented by the term including the overlap of the selling area with areas of competing firms. Other words, the overlap of selling areas inherently generate a negative feedback originated from the pattern of demand. Numerical simulations focused on the obtaining of the firm size distributions uncovered that the range of free parameters where the Pareto's law holds corresponds to the range for which the pair correlation between the nearest neighbor firms attains its minimum.

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“…In this regard, the field has been wildly successful. An impressive array of models now exist that can generate, from simple principles, observed distributions of income [2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21]. The problem is that this outward empirical success masks underlying assumptions that often have little to do with reality.…”

Section: Introductionmentioning

confidence: 99%

A Hierarchy Model of Income Distribution

Fix¹

2018

Preprint

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Based on worldly experience, most people would agree that firms are hierarchically organized, and that pay tends to increase as one moves up the hierarchy. But how this hierarchical structure affects income distribution has not been widely studied. To remedy this situation, this paper presents a new model of income distribution that explores the effects of social hierarchy. This 'hierarchy model' takes the limited available evidence on the structure of firm hierarchies, and generalizes it to create a large-scale simulation of the hierarchical structure of the United States economy. Using this model, I conduct the first quantitative investigation of hierarchy's effect on income distribution. I find that hierarchy plays a dominant role in shaping the tail of US income distribution. The model suggests that hierarchy is responsible for generating the power-law scaling of top incomes. Moreover, I find that hierarchy can be used to unify the study of personal and functional income distribution, as well as to understand historical trends in income inequality.

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Wealth redistribution with conservative exchanges

Cited by 50 publications

References 15 publications

Inelastically scattering particles and wealth distribution in an open economy

Inelastically scattering particles and wealth distribution in an open economy

Statistical properties of agent-based market area model

A Hierarchy Model of Income Distribution

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