Dynamics of wealth redistribution

Authors

Christopher P. Monterola ⋅ PH National Institute of Physics, University of the Philippines Diliman
Caesar A. Saloma ⋅ PH National Institute of Physics, University of the Philippines Diliman

Abstract

We analyze how wealth is redistributed in a superopen economy with unbounded wealth. Agents are allowed to interact randomly and produced wealth proportional to the amount of their contribution. Our findings indicate that such simple mechanism is sufficient to explain the power law distribution of wealth in most societies and the emergence of corruption as described recently by Burda, et al. [Phys. Rev. E 65, 026102 (2002)].

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Issue

2002: Proceedings of the 20th Samahang Pisika ng Pilipinas Physics Congress

Ins-FIRE-ing excellence in physics education and research
23-25 October 2002, Ateneo de Naga University

Article ID

SPP-2002-2F-03

Section

Complex Systems and Environmental Physics

Published

2002-10-23

How to Cite

[1]

CP Monterola and CA Saloma, Dynamics of wealth redistribution, Proceedings of the Samahang Pisika ng Pilipinas 20, SPP-2002-2F-03 (2002). URL: https://proceedings.spp-online.org/article/view/SPP-2002-2F-03.