Abhijit Kar Gupta. Models of wealth distributions: a perspective
Submitted on: Mar 31, 2012, 20:33:44
Social Sciences / Economics / Financial
Description: A 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 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 inevstigations, 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.
The abstract of this article has been published in the "Intellectual Archive Bulletin" , March 2012, ISSN 1929-1329.
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