Journal
PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS
Volume 579, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.physa.2021.126123
Keywords
Wealth Concentration; Condensation; Master equation; Unbiased exchanges
Categories
Funding
- Coordenacao de Aperfeicoamento de Pessoal de Nivel Superior - Brasil (CAPES) [001]
- Brazilian agency Conselho Nacional de Desenvolvimento Cientifico e Tecnologico (CNPq)
- Brazilian agency Fundacao de Amparo a Pesquisa do Estado do Rio Grande do Sul (FAPERGS)
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The text discusses models of wealth distribution evolution where economic agents interact and exchange wealth in a binary fashion. It is noted that in unbiased markets, where each agent has an equal chance of winning, the system will inevitably reach perfect inequality and zero mobility.
To describe the wealth distribution evolution, several models consider an ensemble of interacting economic agents that exchange wealth in a binary fashion. Intriguingly, models that consider an unbiased market, i.e., giving each agent the same chances to win, are always out of equilibrium until they attain the perfect inequality at the final state. Here, we present a rigorous analytical demonstration that any system driven by unbiased binary exchanges is doomed to reach perfect inequality and zero mobility. (C) 2021 Elsevier B.V. All rights reserved.
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