Class formation in a social network with asset exchange

Christian H. Sanabria Montaña, Rodrigo Huerta-Quintanilla and Manuel Rodríguez-Achach

Physica A: Statistical Mechanics and its Applications, 2011, vol. 390, issue 2, 328-340

Abstract: We study two kinds of economic exchanges, additive and multiplicative, in a system of N agents. The work is divided into two parts. In the first one, the agents are free to interact with each other. The system evolves to a Boltzmann–Gibbs distribution with additive exchange and condenses with a multiplicative one. If bankruptcy is introduced, both types of exchange lead to condensation. Condensation times have been studied. In the second part, the agents are placed in a social network. We analyze the behavior of wealth distributions in time, and the formation of economic classes is observed for certain values of network connectivity.

Keywords: Classes; Formation; Social; Network; Asset; Exchange (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:390:y:2011:i:2:p:328-340

DOI: 10.1016/j.physa.2010.10.008

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