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Exchanges in complex networks: income and wealth distributions

Matteo, TD; Aste, T; Hyde, ST; (2003) Exchanges in complex networks: income and wealth distributions. in "The Physics of Complex Systems (New Advances and Perspectives)", Eds. F. Mallamace and H. E. Stanley, (IOS Press, Amsterdam 2004) 435.

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Abstract

We investigate the wealth evolution in a system of agents that exchange wealth through a disordered network in presence of an additive stochastic Gaussian noise. We show that the resulting wealth distribution is shaped by the degree distribution of the underlying network and in particular we verify that scale free networks generate distributions with power-law tails in the high-income region. Numerical simulations of wealth exchanges performed on two different kind of networks show the inner relation between the wealth distribution and the network properties and confirm the agreement with a self-consistent solution. We show that empirical data for the income distribution in Australia are qualitatively well described by our theoretical predictions.

Type:Article
Title:Exchanges in complex networks: income and wealth distributions
Additional information:8 pages, 11 figures
UCL classification:UCL > School of BEAMS > Faculty of Engineering Science > Computer Science

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