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Bouchaud-M\'ezard model on a random network

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  • Takashi Ichinomiya

Abstract

We studied the Bouchaud-M\'ezard(BM) model, which was introduced to explain Pareto's law in a real economy, on a random network. Using "adiabatic and independent" assumptions, we analytically obtained the stationary probability distribution function of wealth. The results shows that wealth-condensation, indicated by the divergence of the variance of wealth, occurs at a larger $J$ than that obtained by the mean-field theory, where $J$ represents the strength of interaction between agents. We compared our results with numerical simulation results and found that they were in good agreement.

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  • Takashi Ichinomiya, 2012. "Bouchaud-M\'ezard model on a random network," Papers 1209.2467, arXiv.org.
    • Handle: RePEc:arx:papers:1209.2467
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    Cited by:

    1. Chong, Carsten & Klüppelberg, Claudia, 2019. "Partial mean field limits in heterogeneous networks," Stochastic Processes and their Applications, Elsevier, vol. 129(12), pages 4998-5036.
    2. Seroussi, Inbar & Sochen, Nir, 2020. "Localization phase transition in stochastic dynamics on networks with hub topology," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 554(C).
    3. Max Greenberg & H. Oliver Gao, 2024. "Twenty-five years of random asset exchange modeling," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 97(6), pages 1-27, June.

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