Related papers: Wealth Thermalization Hypothesis and Social Networ…
We focus on the problem of how wealth is distributed among the units of a networked economic system. We first review the empirical results documenting that in many economies the wealth distribution is described by a combination of…
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)…
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…
In their seminal work, Fermi, Pasta, Ulam and Tsingou explored the connection between statistical mechanics and dynamical properties, such as chaos and ergodicity. Even today, seventy years later, the topic is not fully understood: while…
We analyze a class of energy and wealth redistribution models. We characterize their stationary measures and show that they have a discrete dual process. In particular we show that the wealth distribution model with non-zero propensity can…
The recent book by T. Piketty (Capital in the Twenty-First Century) promoted the important issue of wealth inequality. In the last twenty years, physicists and mathematicians developed models to derive the wealth distribution using discrete…
We show that a single nonlinear defect can thermalize an initial excitation towards a Rayleigh-Jeans (RJ) state in complex multimoded systems. The thermalization can be hindered by disorder-induced localization phenomena which drive the…
We present an agent-based model of microscopic wealth exchange in a dynamic network to study the topological features associated with economic inequality. The model evolves through two alternating processes, the conservative exchange of…
This paper reviews recent attempts at modelling inequality of wealth as an emergent phenomenon of interacting-agent processes. We point out that recent models of wealth condensation which draw their inspiration from molecular dynamics have,…
We applied Dirac distribution, Bose-Einstein distribution, and occasionally Boltzmann-Gibbs distribution in order to determine which is optimal for income distribution on a large pool of countries. The best fit to the data was observed in…
Growing economic inequalities are observed in several countries throughout the world. Following Pareto, the power-law structure of these inequalities has been the subject of much theoretical and empirical work. But their nonequilibrium…
While wealth distribution in the world is highly skewed and heavy-tailed, human talent - as the majority of individual features - is normally distributed. In a recent computational study by Pluchino et al [Talent vs luck: The role of…
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…
Understanding the rich spatial and temporal structures in nonequilibrium thermal environments is a major subject of statistical mechanics. Because universal laws, based on an ensemble of systems, are mute on an individual system, exploring…
We show, without relying on any unproven assumptions, that a low-density free fermion chain exhibits thermalization in the following (restricted) sense. We choose the initial state as a pure state drawn randomly from the Hilbert space in…
A brief overview of the models and data analyses of income, wealth, consumption distributions by the physicists, are presented here. It has been found empirically that the distributions of income and wealth possess fairly robust features,…
Thermalization of isolated quantum systems is an intriguing phenomenon at the forefront of contemporary physics. In this work, we demonstrate that nonlinear multimode optical platforms can be harnessed to induce effective quantum…
Probability distributions of money, income, and energy consumption per capita are studied for ensembles of economic agents. The principle of entropy maximization for partitioning of a limited resource gives exponential distributions for the…
The interiors of quiescent prominences are filled with turbulent flows. The evolution of upflow plumes, descending pillars, and vortex motions has been clearly detected in high-resolution observations. The Rayleigh-Taylor instability is…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…