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

Author

Listed:
  • J. Gonzalez-Estevez
  • M. G. Cosenza
  • R. Lopez-Ruiz
  • J. R. Sanchez

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 near 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 on the space of parameters of the system.

Suggested Citation

  • J. Gonzalez-Estevez & M. G. Cosenza & R. Lopez-Ruiz & J. R. Sanchez, 2008. "Pareto and Boltzmann-Gibbs behaviors in a deterministic multi-agent system," Papers 0801.0969, arXiv.org.
    • Handle: RePEc:arx:papers:0801.0969
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    File URL: http://arxiv.org/pdf/0801.0969
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    Cited by:

    1. Klaus Jaffe, 2014. "Visualizing the Invisible Hand of Markets: Simulating complex dynamic economic interactions," Papers 1412.6924, arXiv.org, revised Apr 2015.
    2. Ricardo Lopez-Ruiz & Jose-Luis Lopez & Xavier Calbet, 2011. "Exponential wealth distribution: a new approach from functional iteration theory," Papers 1103.1501, arXiv.org.
    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. R. Lopez-Ruiz & E. Shivanian & S. Abbasbandy & J. L. Lopez, 2011. "A Generalized Continuous Model for Random Markets," Papers 1104.2187, arXiv.org, revised May 2011.
    5. 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.
    6. 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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