Wealth Distributions in Asset Exchange Models

P. L. Krapivsky; S. Redner

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arXiv · 1006.4595

Wealth Distributions in Asset Exchange Models

P. L. Krapivsky·S. Redner

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Abstract

How do individuals accumulate wealth as they interact economically? We outline the consequences of a simple microscopic model in which repeated pairwise exchanges of assets between individuals build the wealth distribution of a population. This distribution is determined for generic exchange rules --- transactions that involve a fixed amount or a fixed fraction of individual wealth, as well as random or greedy exchanges. In greedy multiplicative exchange, a continuously evolving power law wealth distribution arises, a feature that qualitatively mimics empirical observations.

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P. L. Krapivsky, S. Redner. 2010-06-23. Wealth Distributions in Asset Exchange Models. https://arxiv.org/abs/1006.4595

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