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The unfair consequences of equal opportunities: Comparing exchange models of wealth distribution

  • G. M. Caon
  • S. Gonçalves
  • J. R. Iglesias
Article

Abstract.

Simple agent based exchange models are a commonplace in the study of wealth distribution of artificial societies. Generally, each agent is characterized by its wealth and by a risk-aversion factor, and random exchanges between agents allow for a redistribution of the wealth. However, the detailed influence of the amount of capital exchanged has not been fully analyzed yet. Here we present a comparison of two exchange rules and also a systematic study of the time evolution of the wealth distribution, its functional dependence, the Gini coefficient and time correlation functions. In many cases a stable state is attained, but, interesting, some particular cases are found in which a very slow dynamics develops. Finally, we observe that the time evolution and the final wealth distribution are strongly dependent on the exchange rules in a nontrivial way.

Keywords

Income European Physical Journal Special Topic Gini Index Wealth Distribution Time Correlation Function 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© EDP Sciences/Società Italiana di Fisica/Springer-Verlag 2007

Authors and Affiliations

  • G. M. Caon
    • 1
  • S. Gonçalves
    • 1
  • J. R. Iglesias
    • 1
  1. 1.Instituto de Física, Universidade Federal do Rio Grande do SulPorto AlegreBrazil

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