The Growth of Oligarchy in a Yard-Sale Model of Asset Exchange: A Logistic Equation for Wealth Condensation
Bruce M. Boghosian,
Adrian Devitt-Lee and
Hongyan Wang
Papers from arXiv.org
Abstract:
The addition of wealth-attained advantage (WAA) to the Yard-Sale Model (YSM) of asset exchange has been demonstrated to induce wealth condensation. In a model of WAA for which the bias is a continuous function of the wealth difference of the transacting agents, the condensation was shown to arise from a second-order phase transition to a coexistence regime. In this paper, we present the first analytic time-dependent results for this model, by showing that the condensed wealth obeys a logistic equation in time.
Date: 2016-08
References: Add references at CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed
Published in Proceedings of the 1st International Conference on Complex Information Systems, ISBN 978-989-758-181-6, pages 187-193 (2016)
Downloads: (external link)
http://arxiv.org/pdf/1608.05851 Latest version (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1608.05851
Access Statistics for this paper
More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators (help@arxiv.org).