Inelastically scattering particles and wealth distribution in an open economy.

Phys Rev E Stat Nonlin Soft Matter Phys

Institute of Physics, Academy of Sciences of the Czech Republic, Na Slovance 2, CZ-18221 Prague, Czech Republic.

Published: April 2004

Using the analogy with inelastic granular gases we introduce a model for wealth exchange in society. The dynamics is governed by a kinetic equation, which allows for self-similar solutions. The scaling function has a power-law tail, the exponent being given by a transcendental equation. In the limit of continuous trading, a closed form of the wealth distribution is calculated analytically.

Download full-text PDF

Source
http://dx.doi.org/10.1103/PhysRevE.69.046102DOI Listing

Publication Analysis

Top Keywords

wealth distribution
8
inelastically scattering
4
scattering particles
4
particles wealth
4
distribution open
4
open economy
4
economy analogy
4
analogy inelastic
4
inelastic granular
4
granular gases
4

Similar Publications

Want AI Summaries of new PubMed Abstracts delivered to your In-box?

Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!