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Transition from Pareto to Boltzmann-Gibbs behavior in a deterministic economic model

Author

Listed:
  • J. Gonzalez-Estevez
  • M. G. Cosenza
  • O. Alvarez-Llamoza
  • R. Lopez-Ruiz

Abstract

The one-dimensional deterministic economic model recently studied by Gonzalez-Estevez et al. [Physica A 387, 4367 (2008)] is considered on a two-dimensional square lattice with periodic boundary conditions. In this model, the evolution of each agent is described by a map coupled with its nearest neighbors. The map has two factors: a linear term that accounts for the agent's own tendency to grow and an exponential term that saturates this growth through the control effect of the environment. The regions in the parameter space where the system displays Pareto and Boltzmann-Gibbs statistics are calculated for the cases of von Neumann and of Moore's neighborhoods. It is found that, even when the parameters in the system are kept fixed, a transition from Pareto to Boltzmann-Gibbs behavior can occur when the number of neighbors of each agent increases.

Suggested Citation

  • J. Gonzalez-Estevez & M. G. Cosenza & O. Alvarez-Llamoza & R. Lopez-Ruiz, 2008. "Transition from Pareto to Boltzmann-Gibbs behavior in a deterministic economic model," Papers 0811.1064, arXiv.org.
    • Handle: RePEc:arx:papers:0811.1064
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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. 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.
    3. 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.
    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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