A Nonstandard Description of Wealth Concentration in Large-Scale Economies
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Publication:4609605
DOI10.1137/17M1119627zbMath1386.91106MaRDI 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)
Fokker-Planck equation; nonstandard analysis; yard-sale model; econophysics; oligarchy; wealth concentration
91B80: Applications of statistical and quantum mechanics to economics (econophysics)
82C31: Stochastic methods (Fokker-Planck, Langevin, etc.) applied to problems in time-dependent statistical mechanics
35Q84: Fokker-Planck equations
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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
- Fokker-Planck Equation for an Inverse-Square Force
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