Models of wealth distributions: a perspective

Abhijit Kar Gupta

Papers from arXiv.org

Abstract: A class of conserved models of wealth distributions are studied where wealth (or money) is assumed to be exchanged between a pair of agents in a population like the elastically colliding molecules of a gas exchanging energy. All sorts of distributions from exponential (Boltzmann-Gibbs) to something like Gamma distributions and to that of Pareto's law (power law) are obtained out of such models with simple algorithmic exchange processes. Numerical inevstigations, analysis through transition matrix and a mean field approach are employed to understand the generative mechanisms. A general scenario is examined wherefrom a power law and other distributions can emerge.

Date: 2006-04, Revised 2006-05
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