Related papers: Wealth Thermalization Hypothesis and Social Networ…
Redistribution of resources within a group as a method to reduce wealth inequality is a current area of debate. The evolutionary path to or away from wealth sharing is also a subject of active research. In order to investigate effects and…
We present a stylized model with feedback loops for the evolution of a population's wealth over generations. Individuals have both talent and wealth: talent is a random variable distributed identically for everyone, but wealth is a random…
We study thermalization in a one-dimensional quantum system consisting of a noninteracting fermionic chain with each site of the chain coupled to an additional bath site. Using a density matrix renormalization group algorithm we investigate…
We provide molecular dynamics simulation of heat transport and thermal energy diffusion in one-dimensional molecular chains with different interparticle pair potentials at zero and non-zero temperature. We model the thermal conductivity…
Understanding how statistical equilibrium can occur in out-of-equilibrium systems is of paramount interest, as it would enable the use of statistical mechanics tools to these systems. Here, we report the first experimental evidence of…
We develop a microscopic theory of thermalisation for a thermometer coupled to a many-body bath beyond standard Markovian and Fermi-golden-rule assumptions. By modeling interaction matrix elements in the non-interacting basis as independent…
Social and economic inequality is a plague of the XXI Century. It is continuously widening, as the wealth of a relatively small group increases and, therefore, the rest of the world shares a shrinking fraction of resources. This situation…
This paper presents a comprehensive and systematic study of the possible connection between thermalization of cubic nonlinear lattices with nearest-neighbor coupling and the structure of the mixing tensor that arises due to the presence of…
In the context of a large class of stochastic processes used to describe the dynamics of wealth growth, we prove a set of inequalities establishing necessary and sufficient conditions in order to avoid infinite wealth concentration. These…
The paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of…
The uneven distribution of wealth and individual economic capacities are among the main forces which shape modern societies and arguably bias the emerging social structures. However, the study of correlations between the social network and…
We study a mathematical model of social diffusion on a symmetric weighted network where individual nodes' states gradually assimilate to local social norms made by their neighbors' average states. Unlike physical diffusion, this process is…
Complex network theory provides an elegant and powerful framework to statistically investigate different types of systems such as society, brain or the structure of local and long-range dynamical interrelationships in the climate system.…
In view of some persistent recent reports on a singular kind of growth of the world wealth inequality, where a finite (often handful) number of people tend to possess more than the wealth of the planet's 50\% population, we explore here if…
We study the XXZ model with a random magnetic field in contact with a weakly disordered spin chain, acting as a finite thermal bath. We revise Fermi's golden rule description of the interaction between the thermal bath and the XXZ spin…
Empirical distributions of wealth and income can be reproduced using simplified agent-based models of economic interactions, analogous to microscopic collisions of gas particles. Building upon these models of freely interacting agents, we…
An heuristic model of the society, as an assembly of weakly interacting individuals, is discussed. The model allows to connect macroscopic phenomena with features of relations between individuals. Addressing to the problem of inequality, a…
The agent-based Yard-Sale model of wealth inequality is generalized to incorporate exponential economic growth and its distribution. The distribution of economic growth is nonuniform and is determined by the wealth of each agent and a…
We study an agent-based model of evolution of wealth distribution in a macro-economic system. The evolution is driven by multiplicative stochastic fluctuations governed by the law of proportionate growth and interactions between agents. We…
This study is concerned with estimating the inequality measures associated with the underlying hypothetical income distribution from the times series grouped data on the Lorenz curve. We adopt the Dirichlet pseudo likelihood approach where…