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Gupta, Ruta; Kar, Rosalin; Gupta, Hemant

doi:10.1007/978-981-33-6338-0_24

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A Power Law From Mean Field Analysis1

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“…One can have an estimate of ensemble averaged value of wealth [31] using one of the above equations ( 13) in section V. Emergence of a power law in the wealth distribution can be established through a simple consideration as follows. Taking ensemble average of all the terms on both sides of the first eqn.…”

Section: A Power Law From Mean Field Analysismentioning

confidence: 99%

Models of Wealth Distributions – A Perspective

Gupta¹

2006

Econophysics and Sociophysics

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I. ABSTRACTA class of conserved models of wealth distributions are studied where wealth (or money) is assumed to be exchanged between a pair of agents in a population just like the elastically colliding molecules of a gas exchanging energy. All sorts of distributions from exponential (Boltzmann-Gibbs) to something like Gamma distributions and to that of Pareto's law (power law) are obtained out of such models with simple algorithmic exchange processes. Numerical investigations, analysis through transition matrix and a mean field approach are employed to understand the generative mechanisms. A general scenario is examined wherefrom a power law and other distributions can emerge.

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Section: A Power Law From Mean Field Analysismentioning

confidence: 99%

Models of Wealth Distributions – A Perspective

Gupta¹

2006

Econophysics and Sociophysics

View full text Add to dashboard Cite

show abstract

Rehabilitation

Cited by 1 publication

References 51 publications

Models of Wealth Distributions – A Perspective

Models of Wealth Distributions – A Perspective

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