TY - JOUR
T1 - Power law distribution of wealth in population based on a modified Equíluz-Zimmermann model
AU - Xie, Yan Bo
AU - Wang, Bing Hong
AU - Hu, Bo
AU - Zhou, Tao
PY - 2005/4
Y1 - 2005/4
N2 - We propose a money-based model for the power law distribution (PLD) of wealth in an economically interacting population. It is introduced as a modification of the Equíluz and Zimmermann (EZ) model for crowding and information transmission in financial markets. Still, it must be stressed that in the EZ model a PLD without exponential correction is obtained only for a particular parameter, while our pattern will give the exact PLD within a wide range. The PLD exponent depends on the model parameters in a nontrivial way and is exactly calculated in this paper. The numerical results are in excellent agreement with the analytic prediction, and also comparable with empirical data of wealth distribution.
AB - We propose a money-based model for the power law distribution (PLD) of wealth in an economically interacting population. It is introduced as a modification of the Equíluz and Zimmermann (EZ) model for crowding and information transmission in financial markets. Still, it must be stressed that in the EZ model a PLD without exponential correction is obtained only for a particular parameter, while our pattern will give the exact PLD within a wide range. The PLD exponent depends on the model parameters in a nontrivial way and is exactly calculated in this paper. The numerical results are in excellent agreement with the analytic prediction, and also comparable with empirical data of wealth distribution.
UR - http://www.scopus.com/inward/record.url?scp=41349105224&partnerID=8YFLogxK
U2 - 10.1103/PhysRevE.71.046135
DO - 10.1103/PhysRevE.71.046135
M3 - 文章
AN - SCOPUS:41349105224
SN - 1539-3755
VL - 71
JO - Physical Review E - Statistical, Nonlinear, and Soft Matter Physics
JF - Physical Review E - Statistical, Nonlinear, and Soft Matter Physics
IS - 4
M1 - 046135
ER -