"Models of statistical physics applied to economy (Econophysics)"
Relatore: Prof. J. R. Iglesias, Instituto di Fisica UFRGS, P- Il Prof. Iglesias e' docente sia alla Facolta` di Fisica che alla Facolta` di Economia dell' Universita` federale di Porto Alegre
20 Aprile 2005 ore 16.30
|We present a short historical introduction to
the application of methods of statistical
physics to economic problems. We first discuss
as examples the volatility of financial markets
and risk management, then we focus on the origin
of wealth distribution, particularly on the
power-law behavior of the income distribution
Next, we study the effect of the social stratification
on the wealth distribution in a system of interacting economic agents that are constrained to interact only
within their own economic class. The economical
mobility of the agents is related to their success in exchange transactions. Different wealth distributions
are obtained as a function of the width of the economic class. We find a range of widths in which the society
is divided into two classes separated by a deep gap that prevents further exchange between poor and rich agents.
As a consequence, the middle wealth class is eliminated.
The high values of the Gini indices obtained in these
cases indicate a highly unequal society. On the other
hand, lower and higher widths induce lower Gini indices indicating a fairer wealth distribution.