Nonlinear redistribution of wealth from a stochastic approach

DOI10.1016/J.CHAOS.2022.112578OpenAlexW4293791338MaRDI QIDQ2111304FDOQ2111304

Authors Hugo Lima, Allan R. Vieira, Celia Anteneodo

Publication date 13 January 2023

Published in Chaos, Solitons and Fractals (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/2007.11680

zbMATH Keywords

Fokker-Planck equationyard-sale modelwealth distributionagent-based modelredistributive taxes

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Applications of statistical and quantum mechanics to economics (econophysics) (91B80) Fokker-Planck equations (35Q84)

Cites work

• A simple probabilistic approach of the yard-sale model
• Basic kinetic wealth-exchange models: common features and open problems
• Duality in an asset exchange model for wealth distribution
• Inequality, a scourge of the XXI century
• Oligarchy as a phase transition: the effect of wealth-attained advantage in a Fokker-Planck description of asset exchange
• The Fokker-Planck equation. Methods of solutions and applications.
• The affine wealth model: an agent-based model of asset exchange that allows for negative-wealth agents and its empirical validation
• The nonuniversality of wealth distribution tails near wealth condensation criticality

Cited in

(3)

• Exponential wealth distribution : a new approach from functional iteration theory
• Evolution of wealth in a non-conservative economy driven by local Nash equilibria
• Lorenz dominance and non-welfaristic redistribution

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