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Pareto and Boltzmann–Gibbs behaviors in a deterministic multi-agent system

Author

Listed:
  • González-Estévez, J.
  • Cosenza, M.G.
  • López-Ruiz, R.
  • Sánchez, J.R.

Abstract

A deterministic system of interacting agents is considered as a model for economic dynamics. The dynamics of the system is described by a coupled map lattice with nearest neighbor interactions. The evolution of each agent results from the competition between two factors: the agent’s own tendency to grow and the environmental influence that moderates this growth. Depending on the values of the parameters that control these factors, the system can display Pareto or Boltzmann–Gibbs statistical behaviors in its asymptotic dynamical regime. The regions where these behaviors appear are calculated on the space of parameters of the system. Other statistical properties, such as the mean wealth, the standard deviation, and the Gini coefficient characterizing the degree of equity in the wealth distribution are also calculated.

Suggested Citation

  • González-Estévez, J. & Cosenza, M.G. & López-Ruiz, R. & Sánchez, J.R., 2008. "Pareto and Boltzmann–Gibbs behaviors in a deterministic multi-agent system," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(18), pages 4637-4642.
    • Handle: RePEc:eee:phsmap:v:387:y:2008:i:18:p:4637-4642
    DOI: 10.1016/j.physa.2008.03.013
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    Cited by:

    1. Asinari, Pietro & Chiavazzo, Eliodoro, 2014. "The notion of energy through multiple scales: From a molecular level to fluid flows and beyond," Energy, Elsevier, vol. 68(C), pages 870-876.
    2. Klaus Jaffe, 2014. "Visualizing the Invisible Hand of Markets: Simulating complex dynamic economic interactions," Papers 1412.6924, arXiv.org, revised Apr 2015.
    3. Bagatella-Flores, N. & Rodríguez-Achach, M. & Coronel-Brizio, H.F. & Hernández-Montoya, A.R., 2015. "Wealth distribution of simple exchange models coupled with extremal dynamics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 417(C), pages 168-175.
    4. Klaus Jaffé, 2015. "Visualizing the Invisible Hand of Markets: Simulating Complex Dynamic Economic Interactions," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 22(2), pages 115-132, April.

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