The Dynamic Model of Market Inequality

Robin Maialeh
Additional contact information
Robin Maialeh: University of Economics

Chapter Chapter 7 in Dynamic Models and Inequality, 2020, pp 147-174 from Springer

Abstract: Abstract The aim of the last chapter is to extract and aggregate knowledge from the previous chapters and to formulate a simple model that captures principles of market resource allocation. The model should come with an explicative principle of market inequality in economic distribution for which it abstracts to the utmost from agent’s subjectivity, randomness and idiosyncrasies. Therefore, we assume homogeneous agents in order to eliminate individual differences as the determinant of inequality. This assumption secures that inequality detected among agents with the same decision-making process stems from the system characteristics of the production process which is based on the market mechanism. Beside the market-isolating effect, it is necessary to understand that the proposed model concerns abstract principles of the market mechanism which enables to consider not only typical microeconomic actors (firms and households/individuals), but also national states and other geographical or political entities organized by a market system.

Date: 2020
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:conchp:978-3-030-46313-7_7

Ordering information: This item can be ordered from
http://www.springer.com/9783030463137

DOI: 10.1007/978-3-030-46313-7_7

Access Statistics for this chapter

More chapters in Contributions to Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().