Statistical equilibrium in simple exchange games II. The redistribution game

U. Garibaldi (), Enrico Scalas and P. Viarengo

The European Physical Journal B: Condensed Matter and Complex Systems, 2007, vol. 60, issue 2, 241-246

Abstract: We propose a simple stochastic exchange game mimicking taxation and redistribution. There are g agents and n coins; taxation is modeled by randomly extracting some coins; then, these coins are redistributed to agents following Polya's scheme. The individual wealth equilibrium distribution for the resulting Markov chain is the multivariate symmetric Polya distribution. In the continuum limit, the wealth distribution converges to a Gamma distribution, whose form factor is just the initial redistribution weight. The relationship between this taxation-and-redistribution scheme and other simple conservative stochastic exchange games (such as the BDY game) is discussed. Copyright EDP Sciences/Società Italiana di Fisica/Springer-Verlag 2007

Keywords: 05.40.-a Fluctuation phenomena, random processes, noise, and Brownian motion, 89.65.Gh Economics; econophysics, financial markets, business and management, 02.50.Cw Probability theory, 05.60.-k Transport processes, (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (8)

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DOI: 10.1140/epjb/e2007-00338-5

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