The Study of a Wealth Distribution Model with a Linear Collision Kernel | Zendy

Xia Zhou | Zendy; Kaili Xiang | Zendy; Rongmei Sun | Zendy

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The Study of a Wealth Distribution Model with a Linear Collision Kernel

Author(s) -

Xia Zhou,

Kaili Xiang,

Rongmei Sun

Publication year - 2021

Publication title -

mathematical problems in engineering

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.262

H-Index - 62

eISSN - 1026-7077

pISSN - 1024-123X

DOI - 10.1155/2021/2142876

Subject(s) - substitution (logic) , wealth distribution , distribution (mathematics) , kernel (algebra) , collision , distribution of wealth , limit (mathematics) , economics , boltzmann equation , inequality , mathematics , econometrics , mathematical analysis , thermodynamics , physics , pure mathematics , computer science , computer security , programming language

The wealth substitution rate, which describes the substitution relationship between agents’ investment in wealth, is introduced into the collision kernel of the Boltzmann equation to study wealth distribution. Using the continuous trading limit, the Fokker–Planck equation is derived and the steady-state solution is obtained. The results show that the inequality of wealth distribution decreases as the wealth substitution rate increases under certain assumptions. The wealth distribution has a bimodal shape if the wealth substitution rate does not equal one.

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