Properties of wealth distribution in multi-agent systems of a complex network

Mao Bin Hu, Rui Jiang, Yong Hong Wu, Ruili Wang, Qing Song Wu

Research output: Journal PublicationArticlepeer-review

8 Citations (Scopus)

Abstract

We present a simple model for examining the wealth distribution with agents playing evolutionary games (the Prisoners' Dilemma and the Snowdrift Game) on complex networks. Pareto's power law distribution of wealth (from 1897) is reproduced on a scale-free network, and the Gibbs or log-normal distribution for a low income population is reproduced on a random graph. The Pareto exponents of a scale-free network are in agreement with empirical observations. The Gini coefficient of an ER random graph shows a sudden increment with game parameters. We suggest that the social network of a high income group is scale-free, whereas it is more like a random graph for a low income group.

Original languageEnglish
Pages (from-to)5862-5867
Number of pages6
JournalPhysica A: Statistical Mechanics and its Applications
Volume387
Issue number23
DOIs
Publication statusPublished - 1 Oct 2008
Externally publishedYes

Keywords

  • Complex networks
  • Gini coefficient
  • Pareto exponent
  • Wealth distribution

ASJC Scopus subject areas

  • Statistical and Nonlinear Physics
  • Statistics and Probability

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