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arXiv · 2604.13885

Role of volatility mixing in wealth condensation transition

Jaeseok Hur·Meesoon Ha·Hawoong Jeong
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Abstract

We study the role of heterogeneous volatility in a networked wealth dynamics model and its impact on the wealth condensation transition. Extending the Bouchaud-M\'ezard framework, we introduce binary volatility in networks and investigate how its configuration affects the effective power-law tail exponent of the wealth distribution. Using a stochastic block model, we control the mixing between volatility groups and show that the effective exponent is governed not only by the global parameter $\Lambda=2J/\beta^2$ but also by the volatility configuration in the network. We find that local interactions between nodes with different volatility induce the neutralization of group-wise exponents, which lowers the aggregate tail exponent and yields a condensation transition across $\gamma_{\rm c}=2$. Our results identify volatility mixing as another control mechanism for wealth condensation and highlight the importance of noise heterogeneity in nonequilibrium systems on networks.

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BibTeXRIS

Jaeseok Hur, Meesoon Ha, Hawoong Jeong. 2026-04-15. Role of volatility mixing in wealth condensation transition. https://doi.org/10.1103/61hd-wkxx

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