English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

In view of some persistent recent reports on a singular kind of growth of theworld wealth inequality, where a finite (often handful) number of people tendto possess more than the wealth of the planet's 50\% population, we explorehere if the kinetic exchange models of the market can ever capture suchfeatures where a significant fraction of wealth can concentrate in the hands ofa countable few when the market size $N$ tends to infinity. One alreadyexisting example of such a kinetic exchange model is the Chakraborti orYard-Sale model, where (in absence of tax redistribution etc) the entire wealthcondenses in the hand of one (for any value of $N$), and the market dynamicsstops. With tax redistribution etc, its steady state dynamics have been shownto have remarkable applicability in many cases of our extremely unequal world.We show here that another kinetic exchange model (called here the Banerjeemodel) has intriguing intrinsic dynamics, by which only ten rich traders oragents possess about 99.98\% of the total wealth in the steady state (withoutany tax etc like external manipulation) for any large value of $N$. We willdiscuss in some detail the statistical features of this model using Monte Carlosimulations. We will also show, if the traders each have a non-vanishingprobability $f$ of following random exchanges, then these condensations ofwealth (100\% in the hand of one agent in the Chakraborti model, or about99.98\% in the hands ten agents in the Banerjee model) disappear in the large$N$ limit. We will also see that due to the built-in possibility of randomexchange dynamics in the earlier proposed Goswami-Sen model, where the exchangeprobability decreases with an inverse power of the wealth difference of thepair of traders, one did not see any wealth condensation phenomena.

Kinetic Models of Wealth Distribution Having Extreme Inequality: Numerical Study of Their Stability Against Random Exchanges