Distribution of wealth in a network model of the economy

Tao Ma, John G. Holden and R.A. Serota

Physica A: Statistical Mechanics and its Applications, 2013, vol. 392, issue 10, 2434-2441

Abstract: We show, analytically and numerically, that wealth distribution in the Bouchaud–Mézard network model of the economy is described by a three-parameter generalized inverse gamma distribution. In the mean-field limit of a network with any two agents linked, it reduces to the inverse gamma distribution.

Keywords: Network model; Small world network; Wealth distribution; Mean field theory; Effective field theory; Generalized inverse gamma distribution; Pareto; Power-law tail; Fokker–Planck equation (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:392:y:2013:i:10:p:2434-2441

DOI: 10.1016/j.physa.2013.01.045

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