Filtern
Volltext vorhanden
- nein (1) (entfernen)
Erscheinungsjahr
- 2019 (1)
Dokumenttyp
Sprache
- Englisch (1)
Gehört zur Bibliographie
- ja (1)
Schlagworte
- Statistical and Nonlinear Physics (1) (entfernen)
Institut
Wealth and income distributions are known to feature country-specific Pareto exponents for their long power-law tails. To propose a rationale for this, we introduce an agent-based dynamic model and use Monte Carlo simulations to unveil the wealth distributions in closed and open economical systems. The standard money-exchange scenario is supplemented with the position-exchange agent dynamics that vitally affects the Pareto law. Specifically, in closed systems with position-exchange dynamics the power law changes to an exponential shape, while for open systems with traps the Pareto law remains valid.