The Growth of Oligarchy in a Yard-Sale Model of Asset Exchange: A Logistic Equation for Wealth Condensation

Autor:	Boghosian, Bruce M., Devitt-Lee, Adrian, Wang, Hongyan
Rok vydání:	2016
Předmět:	Quantitative Finance - General Finance Physics - Physics and Society
Zdroj:	Proceedings of the 1st International Conference on Complex Information Systems, ISBN 978-989-758-181-6, pages 187-193 (2016)
Druh dokumentu:	Working Paper
DOI:	10.5220/0005956501870193
Popis:	The addition of wealth-attained advantage (WAA) to the Yard-Sale Model (YSM) of asset exchange has been demonstrated to induce wealth condensation. In a model of WAA for which the bias is a continuous function of the wealth difference of the transacting agents, the condensation was shown to arise from a second-order phase transition to a coexistence regime. In this paper, we present the first analytic time-dependent results for this model, by showing that the condensed wealth obeys a logistic equation in time. Comment: 15 pages, 2 figures
Databáze:	arXiv
Externí odkaz:	http://arxiv.org/abs/1608.05851 Zobrazit plný text záznamu View this record from Arxiv