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Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange

In our recently proposed stochastic version of discretized kinetic theory, the exchange of wealth in a society is modelled through a large system of Langevin equations. The deterministic part of the equations is based on non-linear transition probabilities between income classes. The noise terms can...

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Autores principales: Bertotti, Maria Letizia, Chattopadhyay, Amit K., Modanese, Giovanni
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2018
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7512682/
https://www.ncbi.nlm.nih.gov/pubmed/33265257
http://dx.doi.org/10.3390/e20030166
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author Bertotti, Maria Letizia
Chattopadhyay, Amit K.
Modanese, Giovanni
author_facet Bertotti, Maria Letizia
Chattopadhyay, Amit K.
Modanese, Giovanni
author_sort Bertotti, Maria Letizia
collection PubMed
description In our recently proposed stochastic version of discretized kinetic theory, the exchange of wealth in a society is modelled through a large system of Langevin equations. The deterministic part of the equations is based on non-linear transition probabilities between income classes. The noise terms can be additive, multiplicative or mixed, both with white or Ornstein–Uhlenbeck spectrum. The most important measured correlations are those between Gini inequality index G and social mobility M, between total income and G, and between M and total income. We describe numerical results concerning these correlations and a quantity which gives average stochastic deviations from the equilibrium solutions in dependence on the noise amplitude.
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spelling pubmed-75126822020-11-09 Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange Bertotti, Maria Letizia Chattopadhyay, Amit K. Modanese, Giovanni Entropy (Basel) Article In our recently proposed stochastic version of discretized kinetic theory, the exchange of wealth in a society is modelled through a large system of Langevin equations. The deterministic part of the equations is based on non-linear transition probabilities between income classes. The noise terms can be additive, multiplicative or mixed, both with white or Ornstein–Uhlenbeck spectrum. The most important measured correlations are those between Gini inequality index G and social mobility M, between total income and G, and between M and total income. We describe numerical results concerning these correlations and a quantity which gives average stochastic deviations from the equilibrium solutions in dependence on the noise amplitude. MDPI 2018-03-05 /pmc/articles/PMC7512682/ /pubmed/33265257 http://dx.doi.org/10.3390/e20030166 Text en © 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Bertotti, Maria Letizia
Chattopadhyay, Amit K.
Modanese, Giovanni
Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title_full Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title_fullStr Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title_full_unstemmed Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title_short Statistics of Correlations and Fluctuations in a Stochastic Model of Wealth Exchange
title_sort statistics of correlations and fluctuations in a stochastic model of wealth exchange
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7512682/
https://www.ncbi.nlm.nih.gov/pubmed/33265257
http://dx.doi.org/10.3390/e20030166
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