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Income and Wealth Distributions in Money Exchange Models

Authors: Yan Xu; Liangpeng Guo; Yougui Wang;

Income and Wealth Distributions in Money Exchange Models

Abstract

The empirical works demonstrate that wealth distribution and income distribution have very similar characteristics. This fact makes some researchers fall into a confusion of the two distributions. As important economic variables, wealth and income are quite different in both concept and measurement. These differences should be recognized and embodied in the process of modeling and simulation. Taking the explicit definitions of wealth and income into account, this paper illustrates that income distribution is different from wealth one based on money exchange models. The numerical simulation results show that random exchanging with different trading rules exhibits different types of wealth distribution, but yields almost the same profiles of income distribution.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
1
Average
Average
Average
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