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The unfair consequences of equal opportunities: comparing exchange models of wealth distribution

G. M. Caon·S. Goncalves·J. R. Iglesias
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Abstract

Simple agent based exchange models are a commonplace in the study of wealth distribution of artificial societies. Generally, each agent is characterized by its wealth and by a risk-aversion factor, and random exchanges between agents allow for a redistribution of the wealth. However, the detailed influence of the amount of capital exchanged has not been fully analyzed yet. Here we present a comparison of two exchange rules and also a systematic study of the time evolution of the wealth distribution, its functional dependence, the Gini coefficient and time correlation functions. In many cases a stable state is attained, but, interesting, some particular cases are found in which a very slow dynamics develops. Finally, we observe that the time evolution and the final wealth distribution are strongly dependent on the exchange rules in a nontrivial way.

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G. M. Caon, S. Goncalves, J. R. Iglesias. 2006-11-01. The unfair consequences of equal opportunities: comparing exchange models of wealth distribution. https://doi.org/10.1140/epjst%2Fe2007-00072-4

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