A mathematical theory for wealth distribution

Bertram Düring, Daniel Matthes

Publikation: Beitrag in Buch/Bericht/KonferenzbandKapitelBegutachtung

Abstract

We review a qualitative mathematical theory of kinetic models for wealth distribution in simple market economies. This theory is a unified approach that covers a wide class of such models which have been proposed in the recent literature on econophysics. Based on the analysis of the underlying homogeneous Boltzmann equation, a qualitative description of the evolution of wealth in the largetime regime is obtained. In particular, the most important features of the steady wealth distribution are classified, namely the fatness of the Pareto tail and the tails’ dynamical stability. Most of the applied methods are borrowed from the kinetic theory of rarefied gases. A concise description of the moment hierarchy and suitable metrics for probability measures are employed as key tools.

OriginalspracheEnglisch
TitelModeling and Simulation in Science, Engineering and Technology
Herausgeber (Verlag)Springer Basel
Seiten81-113
Seitenumfang33
DOIs
PublikationsstatusVeröffentlicht - 2010
Extern publiziertJa

Publikationsreihe

NameModeling and Simulation in Science, Engineering and Technology
Band51
ISSN (Print)2164-3679
ISSN (elektronisch)2164-3725

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