Study of a Market Model with Conservative Exchanges on Complex Networks
Abstract
Many models of market dynamics make use of the idea of conservative wealth exchanges among economic agents. A few years ago an exchange model using extremal dynamics was developed and a very interesting result was obtained: a self-generated minimum wealth or poverty line. On the other hand, the wealth distribution exhibited an exponential shape as a function of the square of the wealth. These results have been obtained both considering exchanges between nearest neighbors or in a mean field scheme. In the present paper we study the effect of distributing the agents on a complex network. We have considered archetypical complex networks: Erd\"{o}s-R\'enyi random networks and scale-free networks. The presence of a poverty line with finite wealth is preserved but spatial correlations are important, particularly between the degree of the node and the wealth. We present a detailed study of the correlations, as well as the changes in the Gini coefficient, that measures the inequality, as a function of the type and average degree of the considered networks.
Cite
@article{arxiv.1212.1061,
title = {Study of a Market Model with Conservative Exchanges on Complex Networks},
author = {L. A. Braunstein and P. A. Macri and J. R. Iglesias},
journal= {arXiv preprint arXiv:1212.1061},
year = {2015}
}
Comments
arXiv admin note: substantial text overlap with arXiv:1007.0461