The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their...

We show that there is a common mode of origin for the power laws observed in two different models: (i) the Pareto law for the distribution of money among the agents with random-saving propensities in an ideal gas-like market model and (ii) the Gutenberg–Richter law for the distribution of...

In the last decade, a large body of literature has been developed to explain the universal features of inequality in terms of income and wealth. By now, it is established that the distributions of income and wealth in various economies show a number of statistical regularities. There are several...

We apply the equal load-sharing fiber bundle model of fracture failure in composite materials to model the traffic failure in a system of parallel road network in a city. For some special distributions of traffic handling capacities (thresholds) of the roads, the critical behavior of the jamming...

We estimate the transmittance of the quantum percolation model of Eggarter and Kirkpatrick on square lattices of various sizes using the vector recursion technique. We note from arguments of finite size scaling theory that there is no delocalisation transition for any degree of disorder in two...

Following the success of the study of response to local short-duration pulses (of magnetic field, additional ‘sands’, etc.) on magnetic systems and the BTW (sand-pile) model, to locate accurately the respective critical points, the responses to similar short duration pulses (of electric...