A Model of the Distribution of Wealth in Society
DOI:
https://doi.org/10.14311/764Keywords:
Pareto’s law, economics, scatteringAbstract
A model of the distribution of wealth in society will be presented. The model is based on an agent-based Monte Carlo simulation where interaction (exchange of wealth) is allowed along the edges of a small-world network. The interaction is like inelastic scattering and it is characterized by two constants. Simulations of the model show that the distribution behaves as a power-law and it agrees with results of Pareto.Downloads
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