Investigations to the dynamics of wealth distribution in a kinetic exchange model

作者：

Highlights：

• A kinetic exchange model is applied to investigate the dynamics of wealth distribution.

• A suitable value function contains price prediction and risk estimation to depict behaviors of agents toward potential gains and losses.

• Quasi-invariant wealth limits and Boltzmann-type equations are used to derive a Fokker-Planck equation with underlying equilibrium.

• A stationary solution of the Fokker-Planck equation is obtained to show the asymptotic behavior of wealth distribution.

• The numerical experiments illustrate stationary profiles of wealth distribution.

摘要

•A kinetic exchange model is applied to investigate the dynamics of wealth distribution.•A suitable value function contains price prediction and risk estimation to depict behaviors of agents toward potential gains and losses.•Quasi-invariant wealth limits and Boltzmann-type equations are used to derive a Fokker-Planck equation with underlying equilibrium.•A stationary solution of the Fokker-Planck equation is obtained to show the asymptotic behavior of wealth distribution.•The numerical experiments illustrate stationary profiles of wealth distribution.

论文关键词：Kinetic exchange model,Value function,Fokker-Planck equation,Wealth distribution,Stationary solution

论文评审过程：Received 30 November 2020, Revised 16 March 2021, Accepted 21 March 2021, Available online 5 April 2021, Version of Record 5 April 2021.

论文官网地址：https://doi.org/10.1016/j.amc.2021.126231