Optimal risk in wealth exchange models: agent dynamics from a microscopic perspective

Julian Neñer; María Fabiana Laguna

doi:10.1016/j.physa.2020.125625

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arXiv · 2011.12776

Optimal risk in wealth exchange models: agent dynamics from a microscopic perspective

Julian Neñer·María Fabiana Laguna

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Abstract

In this work we study the individual strategies carried out by agents undergoing transactions in wealth exchange models. We analyze the role of risk propensity in the behavior of the agents and find a critical risk, such that agents with risk above that value always end up losing everything when the system approaches equilibrium. Moreover, we find that the wealth of the agents is maximum for a range of risk values that depends on particular characteristics of the model, such as the social protection factor. Our findings allow to determine a region of parameters for which the strategies of the economic agents are successful.

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Julian Neñer, María Fabiana Laguna. 2020-11-25. Optimal risk in wealth exchange models: agent dynamics from a microscopic perspective. https://doi.org/10.1016/j.physa.2020.125625

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