Distribution of wealth in a network model of the economy

We show, analytically and numerically, that wealth distribution in the Bouchaud–Mézard network model of the economy is described by a three-parameter generalized inverse gamma distribution. In the mean-field limit of a network with any two agents linked, it reduces to the inverse gamma distribution.

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Year of publication:	2013
Authors:	Ma, Tao ; Holden, John G. ; Serota, R.A.
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 392.2013, 10, p. 2434-2441
Publisher:	Elsevier
Subject:	Network model \| Small world network \| Wealth distribution \| Mean field theory \| Effective field theory \| Generalized inverse gamma distribution \| Pareto \| Power-law tail \| Fokker–Planck equation

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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