Inelastically scattering particles and wealth distribution in an open
  economy

A. Baldassarri; A. Baldassarri; A. Blank; A. Chakraborti; A. Chatterjee; A. Drăgulescu; A. Drăgulescu; A. Drăgulescu; A. Drăgulescu; A. V. Bobylev; A. V. Bobylev; A. V. Bobylev; A. Y. Abul-Magd; A.-L. Barabási; D. Ben-Avraham; D. J. Watts; D. Sornette; D. Sornette; D. Sornette; E. Barkai; E. Ben-Naim; E. Ben-Naim; E. Ben-Naim; František Slanina; H. Aoyama; H. M. Jaeger; H. Takayasu; I. Ispolatov; J. R. Iglesias; J.-P. Bouchaud; M. Gligor; M. H. Ernst; M. H. Ernst; M. H. Ernst; M. H. Ernst; M. Levy; M. Levy; M. Levy; M. Marsili; O. Biham; P. L. Krapivsky; S. Ispolatov; S. Pianegonda; S. Sinha; S. Solomon; T. Antal; W. J. Reed; W. Souma; Z.-F. Huang; Z.-F. Huang

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Inelastically scattering particles and wealth distribution in an open economy

Abstract

Using the analogy with inelastic granular gasses we introduce a model for wealth exchange in society. The dynamics is governed by a kinetic equation, which allows for self-similar solutions. The scaling function has a power-law tail, the exponent being given by a transcendental equation. In the limit of continuous trading, closed form of the wealth distribution is calculated analytically.Comment: 8 pages 5 figure

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Last time updated on 02/01/2020