Analysis of a model for wealth redistribution | Zendy

Daniel Matthes | Zendy; Giuseppe Toscani | Zendy

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Analysis of a model for wealth redistribution

Author(s) -

Daniel Matthes,

Giuseppe Toscani

Publication year - 2008

Publication title -

kinetic and related models

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.987

H-Index - 28

eISSN - 1937-5093

pISSN - 1937-5077

DOI - 10.3934/krm.2008.1.1

Subject(s) - chatterjee , redistribution (election) , uniqueness , wealth distribution , statistical physics , econophysics , simple (philosophy) , pareto principle , stability (learning theory) , mathematics , mathematical economics , economics , econometrics , inequality , computer science , physics , mathematical optimization , mathematical analysis , philosophy , bengali , epistemology , artificial intelligence , machine learning , politics , political science , law

A recent application of the kinetic theory for many particle systems is the description of the redistribution of wealth among trading agents in a simple market economy. This paper provides an analytical investigation of the particular model with quenched saving propensities, which has been introduced by Chakrabarti, Chatterjee and Manna [11]. We prove uniqueness and dynamical stability of the stationary solution to the underlying Boltzmann equation, and provide estimates on the rate of equilibration. As one main result, we obtain that realistic steady wealth distributions with Pareto tail are only algebraically stable in this framework.

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