A Nonstandard Description of Wealth Concentration in Large-Scale Economies
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Publication:4609605
DOI10.1137/17M1119627zbMath1386.91106OpenAlexW2794934329MaRDI QIDQ4609605
Bruce M. Boghosian, Adrian Devitt-Lee, Jie Li, Hong-Yan Wang
Publication date: 5 April 2018
Published in: SIAM Journal on Applied Mathematics (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1137/17m1119627
Applications of statistical and quantum mechanics to economics (econophysics) (91B80) Stochastic methods (Fokker-Planck, Langevin, etc.) applied to problems in time-dependent statistical mechanics (82C31) Fokker-Planck equations (35Q84)
Related Items (5)
A kinetic description of individual wealth growth and control ⋮ The affine wealth model: an agent-based model of asset exchange that allows for negative-wealth agents and its empirical validation ⋮ Kinetic models for optimal control of wealth inequalities ⋮ Global Density Analysis for an Off-Lattice Agent-Based Model ⋮ The Nonuniversality of Wealth Distribution Tails Near Wealth Condensation Criticality
Cites Work
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- 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
- Fokker-Planck Equation for an Inverse-Square Force
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