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

doi:10.1016/j.physa.2008.06.032

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 Publication › Article › peer-review

9 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 language	English
Pages (from-to)	5862-5867
Number of pages	6
Journal	Physica A: Statistical Mechanics and its Applications
Volume	387
Issue number	23
DOIs	https://doi.org/10.1016/j.physa.2008.06.032
Publication status	Published - 1 Oct 2008
Externally published	Yes

Keywords

Complex networks
Gini coefficient
Pareto exponent
Wealth distribution

ASJC Scopus subject areas

Statistical and Nonlinear Physics
Statistics and Probability

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10.1016/j.physa.2008.06.032

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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.",

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T1 - Properties of wealth distribution in multi-agent systems of a complex network

AU - Hu, Mao Bin

AU - Jiang, Rui

AU - Wu, Yong Hong

AU - Wang, Ruili

AU - Wu, Qing Song

PY - 2008/10/1

Y1 - 2008/10/1

N2 - 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.

AB - 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.

KW - Complex networks

KW - Gini coefficient

KW - Pareto exponent

KW - Wealth distribution

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

Abstract

Keywords

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