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 QIDQ2156124FDOQ2156124

Authors: 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

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zbMATH Keywords

dualityLorenz curvephase transitionsasset exchange modelGini coefficientyard-sale modelphase coexistencewealth inequalitywealth condensationaffine wealth modelextended yard-sale modelwealth-attained advantage

Mathematics Subject Classification ID

Statistical mechanics, structure of matter (82-XX)

Cites Work

• An \(H\) theorem for Boltzmann's equation for the yard-sale model of asset exchange. The Gini coefficient as an \(H\) functional
• A Nonstandard Description of Wealth Concentration in Large-Scale Economies
• 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

Cited In (8)

• The lattice Fokker–Planck equation for models of wealth distribution
• Wealth distribution evolution in an agent-based computational economy
• Inequality, a scourge of the XXI century
• The Nonuniversality of Wealth Distribution Tails Near Wealth Condensation Criticality
• Nonlinear redistribution of wealth from a stochastic approach
• A kinetic description of individual wealth growth and control
• Bounding the approach to oligarchy in a variant of the yard-sale model
• Wealth concentration in systems with unbiased binary exchanges

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