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"Self-Organization of Wealth Distribution in an Economy with Conservative Exchanges."

Relatore: J.R. Iglesias, Instituto de Física, Universidade F

Aula Newton
03 Febbraio 2003 ore 16.30

The Pareto-Levy law suggests that the wealth distribution in many societies follows a power law. In this work we simulate a net of economic agents with both probabilistic and deterministic exchanges and with different geometries and topologies (regular lattices and Small World lattices). The distribution of wealth depends on the dimension of the lattice and on its topology, that is, the type of geographical distribution (local or global) of exchanges. As an example, a local exchange model generates an exponential wealth distribution with a poverty line of 0.4 in a scale from 0 to 1), while the a-geographic global mean field solution generates a completely different wealth distribution: an almost linear one. Also, when comparing to the local case, there is a higher number of rich agents but also lower poverty line (0.2). In a sense, the local non globalized) model corresponds to a kind of feudal world, and the random model to a globalized economy. The objective of this research is to determine the effect of the topology of exchanges, and also the effect of taxes and returns on the wealth distribution. We believe these conclusions may be of interest in view of the present debate over the goods and evils of globalization.