The affine wealth model: an agent-based model of asset exchange that allows for negative-wealth agents and its empirical validation

DOI10.1016/j.physa.2018.10.042OpenAlexW2964222608WikidataQ129032641 ScholiaQ129032641MaRDI QIDQ2156124

Jie Li, Bruce M. Boghosian, Chengli Li

Publication date: 15 July 2022

Published in: Physica A (Search for Journal in Brave)

Full work available at URL: https://arxiv.org/abs/1604.02370

zbMATH Keywords

phase transitionsdualityGini coefficientLorenz curveasset exchange modelyard-sale modelphase coexistencewealth inequalitywealth condensationaffine wealth modelextended yard-sale modelwealth-attained advantage

Mathematics Subject Classification ID

Statistical mechanics, structure of matter (82-XX)

Related Items (6)

A kinetic description of individual wealth growth and control ⋮ Inequality, a scourge of the XXI century ⋮ The lattice Fokker–Planck equation for models of wealth distribution ⋮ Wealth concentration in systems with unbiased binary exchanges ⋮ The Nonuniversality of Wealth Distribution Tails Near Wealth Condensation Criticality ⋮ Nonlinear redistribution of wealth from a stochastic approach

Cites Work

• An \(H\) theorem for Boltzmann's equation for the yard-sale model of asset exchange. The Gini coefficient as an \(H\) functional
• Oligarchy as a phase transition: the effect of wealth-attained advantage in a Fokker-Planck description of asset exchange
• Duality in an asset exchange model for wealth distribution
• A Nonstandard Description of Wealth Concentration in Large-Scale Economies

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