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We discuss the equivalence between kinetic wealth-exchange models, in which agents exchange wealth during trades, and mechanical models of particles, exchanging energy during collisions. The universality of the underlying dynamics is shown…

General Finance · Quantitative Finance 2009-11-13 Anirban Chakraborti , Marco Patriarca

Various multi-agent models of wealth distributions defined by microscopic laws regulating the trades, with or without a saving criterion, are reviewed. We discuss and clarify the equilibrium properties of the model with constant global…

Physics and Society · Physics 2013-03-19 Marco Patriarca , Anirban Chakraborti , Kimmo Kaski , Guido Germano

Recently, strategic games inspired by Schelling's influential model of residential segregation have been studied in the TCS and AI literature. In these games, agents of k different types occupy the nodes of a network topology aiming to…

Computer Science and Game Theory · Computer Science 2024-03-15 Lata Narayanan , Yasaman Sabbagh , Alexandros A. Voudouris

This paper develops a nonparametric statistical model of wealth distribution that imposes little structure on the fluctuations of household wealth. In this setting, we use new techniques to obtain a closed-form household-by-household…

Economics · Quantitative Finance 2016-01-19 Ricardo T. Fernholz

Mounting evidences are being gathered suggesting that income and wealth distribution in various countries or societies follow a robust pattern, close to the Gibbs distribution of energy in an ideal gas in equilibrium, but also deviating…

Physics and Society · Physics 2008-12-02 Arnab Chatterjee , Sitabhra Sinha , Bikas K. Chakrabarti

We investigate several geometric models of network which simultaneously have some nice global properties, that the small diameter property, the small-community phenomenon, which is defined to capture the common experience that (almost)…

Probability · Mathematics 2011-07-29 Angsheng Li , Pan Peng

We consider how selfish agents are likely to share revenues derived from maintaining connectivity between important network servers. We model a network where a failure of one node may disrupt communication between other nodes as a…

Computer Science and Game Theory · Computer Science 2014-02-05 Yoram Bachrach , Ely Porat Porat , Jeffrey S. Rosenschein

This paper proposes a simple model to capture the complexity of multi-layer systems where their constituent layers affect, are affected by, each other. The physical layer is a circuit composed by a power source and resistors in parallel.…

Multiagent Systems · Computer Science 2016-02-09 Florian Kühnlenz , Pedro H. J. Nardelli

This paper investigates the emergence of wealth inequality through a minimalist kinetic exchange model that incorporates two fundamental economic features: fixed-amount transactions and hard budget constraints. In contrast to the maximum…

Physics and Society · Physics 2025-11-12 Jihyuan Liuh

Social networks affect the diffusion of information, and thus have the potential to reduce or amplify inequality in access to opportunity. We show empirically that social networks often exhibit a much larger potential for unequal diffusion…

Applications · Statistics 2022-10-21 Eaman Jahani , Dean Eckles , Alex 'Sandy' Pentland

Participants in socio-economic systems are often ranked based on their performance. Rankings conveniently reduce the complexity of such systems to ordered lists. Yet, it has been shown in many contexts that those who reach the top are not…

Physics and Society · Physics 2024-01-30 Federica De Domenico , Fabio Caccioli , Giacomo Livan , Guido Montagna , Oreste Nicrosini

We describe society as a nonequilibrium probabilistic system: N individuals occupy W resource states in it and produce entropy S over definite time periods. Resulting thermodynamics is however unusual because a second entropy, H, measures a…

General Finance · Quantitative Finance 2019-02-20 J. Rosenblatt

We consider a class of jump games in which agents of different types occupy the nodes of a graph aiming to maximize the variety of types in their neighborhood. In particular, each agent derives a utility equal to the number of types…

Computer Science and Game Theory · Computer Science 2025-05-16 Lata Narayanan , Jaroslav Opatrny , Shanmukha Tummala , Alexandros A. Voudouris

Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…

Multiagent Systems · Computer Science 2021-04-28 Jan E. Snellman , Gerardo Iñiguez , János Kertész , R. A. Barrio , Kimmo K. Kaski

We formulate a flexible micro-to-macro kinetic model which is able to explain the emergence of income profiles out of a whole of individual economic interactions. The model is expressed by a system of several nonlinear differential…

Economics · Quantitative Finance 2016-11-28 Maria Letizia Bertotti , Giovanni Modanese

Random Boolean Network has been used to find out regulation patterns of genes in organism. his approach is very interesting to use in a game such as N Person PD. Here we assume that action is influenced by input in the form of choices of…

Disordered Systems and Neural Networks · Physics 2007-05-23 Hokky Situngkir , Deni Khanafiah

Public Goods Games represent one of the most useful tools to study group interactions between individuals. However, even if they could provide an explanation for the emergence and stability of cooperation in modern societies, they are not…

Physics and Society · Physics 2016-05-05 Sandro Meloni , Cheng-Yi Xia , Yamir Moreno

In this work we review some recent development in the mathematical modelling of quantitative sociology by means of statistical mechanics. After a short pedagogical introduction to static and dynamic properties of many body systems, we…

Physics and Society · Physics 2009-10-15 Elena Agliari , Adriano Barra , Raffaella Burioni , Pierluigi Contucci

We introduce and discuss a system of one-dimensional kinetic equations describing the influence of higher education in the social stratification of a multi-agent society. The system is obtained by coupling a model for knowledge formation…

Physics and Society · Physics 2021-10-18 Giacomo Dimarco , Giuseppe Toscani , Mattia Zanella

We address the issue of the dynamics of wealth accumulation and economic crisis triggered by extreme inequality, attempting to stick to most possibly intrinsic assumptions. Our general framework is that of pure or modified multiplicative…

Economics · Quantitative Finance 2017-05-17 Henri Benisty
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