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Dynamics of Wealth Inequality in Simple Artificial Societies

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  • John C. Stevenson

Abstract

A simple generative model of a foraging society generates significant wealth inequalities from identical agents on an equal opportunity landscape. These inequalities arise in both equilibrium and non-equilibrium regimes with some societies essentially never reaching equilibrium. Reproduction costs mitigate inequality beyond their affect on intrinsic growth rate. The highest levels of inequality are found during non-equilibrium regimes. Inequality in dynamic regimes is driven by factors different than those driving steady state inequality. Evolutionary pressures drive the intrinsic growth rate as high as possible, leading to a tragedy of the commons.

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  • John C. Stevenson, 2021. "Dynamics of Wealth Inequality in Simple Artificial Societies," Papers 2108.11892, arXiv.org, revised Oct 2021.
    • Handle: RePEc:arx:papers:2108.11892
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