Kinetics of wealth and the Pareto law.

Boghosian, Bruce M.

2014.

Description
  • An important class of economic models involve agents whose wealth changes due to transactions with other agents. Several authors have pointed out an analogy with kinetic theory, which describes molecules whose momentum and energy change due to interactions with other molecules. We pursue this analogy and derive a Boltzmann equation for the time evolution of the wealth distribution of a population ... read more
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