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Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange

1
Free University of Bozen-Bolzano, Faculty of Science and Technology, I-39100 Bolzano, Italy
2
Aston University, Mathematics, System Analytics Research Group, Birmingham B4 7ET, UK
*
Author to whom correspondence should be addressed.
Entropy 2018, 20(3), 166; https://doi.org/10.3390/e20030166
Received: 28 December 2017 / Revised: 12 February 2018 / Accepted: 3 March 2018 / Published: 5 March 2018
(This article belongs to the Special Issue Theoretical Aspect of Nonlinear Statistical Physics)
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Abstract

In our recently proposed stochastic version of discretized kinetic theory, the exchange of wealth in a society is modelled through a large system of Langevin equations. The deterministic part of the equations is based on non-linear transition probabilities between income classes. The noise terms can be additive, multiplicative or mixed, both with white or Ornstein–Uhlenbeck spectrum. The most important measured correlations are those between Gini inequality index G and social mobility M, between total income and G, and between M and total income. We describe numerical results concerning these correlations and a quantity which gives average stochastic deviations from the equilibrium solutions in dependence on the noise amplitude. View Full-Text
Keywords: discretized kinetic theory; wealth exchange models; Langevin stochastic equations; multiplicative noise; Ornstein–Uhlenbeck noise discretized kinetic theory; wealth exchange models; Langevin stochastic equations; multiplicative noise; Ornstein–Uhlenbeck noise
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Bertotti, M.L.; Chattopadhyay, A.K.; Modanese, G. Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange. Entropy 2018, 20, 166.

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