Properties of wealth distribution in multi-agent systems of a complex network

Mao-Bin Hu, Rui Jiang, Yong-Hong Wu, Ruili Wang and Qing-Song Wu

Physica A: Statistical Mechanics and its Applications, 2008, vol. 387, issue 23, 5862-5867

Abstract: We present a simple model for examining the wealth distribution with agents playing evolutionary games (the Prisoners’ Dilemma and the Snowdrift Game) on complex networks. Pareto’s power law distribution of wealth (from 1897) is reproduced on a scale-free network, and the Gibbs or log-normal distribution for a low income population is reproduced on a random graph. The Pareto exponents of a scale-free network are in agreement with empirical observations. The Gini coefficient of an ER random graph shows a sudden increment with game parameters. We suggest that the social network of a high income group is scale-free, whereas it is more like a random graph for a low income group.

Keywords: Complex networks; Wealth distribution; Gini coefficient; Pareto exponent (search for similar items in EconPapers)
Date: 2008
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:387:y:2008:i:23:p:5862-5867

DOI: 10.1016/j.physa.2008.06.032

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