scholarly journals Kinetic Theory Models for the Distribution of Wealth: Power Law from Overlap of Exponentials

Author(s):  
Marco Patriarca ◽  
Anirban Chakraborti ◽  
Kimmo Kaski ◽  
Guido Germano

Until our knowledge of the disposition and motion of the electrons in atoms and molecules is more complete, we cannot hope to make a direct calculation of the nature of the forces called into play during an encounter between molecules in a gas. It is true that a step in this direction has recently been made by Debye, who has investigated the nature of the field in the neighbourood of a hydrogen atom, assumed to consist of a negative charge in motion in circular orbit about a positive nucleus, and has shown how the pulsating eld gives rise on the whole to a force of repulsion, as well as one of attraction n a unit negative charge. But it is difficult to see how this work can be extended to more complex systems. At present we can only hope to derive information by more indirect methods. One such method is to assume a definite law of force, and then by the methods of the kinetic theory to deduce the appropriate law of dependence of the viscosity of a gas on temperature. Comparison with the actual law, as observed experimentally, serves to support or discredit the assumed law of molecular interaction. Unfortunately, the calculations involved in the application of be kinetic theory are so complicated that progress has been made only in certain simple cases. Thus, the original investigation by Maxwell applied only to molecules repelling as the inverse fifth power law. His work has since be generalised by Chapman and Enskog and formulæ have been obtained: the coefficient of viscosity in the case of (i) molecules, which repel according an inverse n th power law, (ii) molecules which behave on collision like rig elastic spheres and (iii) molecules which behave as rigid elastic spheres with weak attractive field of force surrounding them. Of these models the la generally referred to as Sutherland’s model, is found to give the best agreement between theory and experiment. But the agreement is by no means perfe As Schmidt, Bestelmeyer, Vogel, and others have pointed out, there considerable divergence from observed values a t low temperatures.


10.14311/764 ◽  
2005 ◽  
Vol 45 (5) ◽  
Author(s):  
H. Lavička ◽  
F. Slanina

A model of the distribution of wealth in society will be presented. The model is based on an agent-based Monte Carlo simulation where interaction (exchange of wealth) is allowed along the edges of a small-world network. The interaction is like inelastic scattering and it is characterized by two constants. Simulations of the model show that the distribution behaves as a power-law and it agrees with results of Pareto. 


2001 ◽  
Vol 12 (03) ◽  
pp. 333-343 ◽  
Author(s):  
PETER RICHMOND ◽  
SORIN SOLOMON

Using a previously introduced model on generalized Lotka–Volterra dynamics together with some recent results for the solution of generalized Langevin equations, we derive analytically the equilibrium mean field solution for the probability distribution of wealth and show that it has two characteristic regimes. For large values of wealth, it takes the form of a Pareto style power law. For small values of wealth, w ≤ wm, the distribution function tends sharply to zero. The origin of this law lies in the random multiplicative process built into the model. Whilst such results have been known since the time of Gibrat, the present framework allows for a stable power law in an arbitrary and irregular global dynamics, so long as the market is "fair", i.e., there is no net advantage to any particular group or individual. We further show that the dynamics of relative wealth is independent of the specific nature of the agent interactions and exhibits a universal character even though the total wealth may follow an arbitrary and complicated dynamics. In developing the theory, we draw parallels with conventional thermodynamics and derive for the system some new relations for the "thermodynamics" associated with the Generalized Lotka–Volterra type of stochastic dynamics. The power law that arises in the distribution function is identified with new additional logarithmic terms in the familiar Boltzmann distribution function for the system. These are a direct consequence of the multiplicative stochastic dynamics and are absent for the usual additive stochastic processes.


This paper is a continuation of a series of others, recently published, in which an attempt is made to co-ordinate kinetic theory data with crystal data simultaneously to determine interatomic fields. The methods there described are here elaborated and extended, and new considerations are introduced which have the effect of modifying the conclusions previously reached. The repulsive fields of a number of ions are determined and are used to calculate a number of crystal properties, including compressibility and elasticity, which are compared where possible with experiment. The calculations have been made as extensive as possible in order to explore to the full the possibilities of the central field of force and in particular that of the inverse power law. The main features of the preceding papers were (i) the determination from certain gaseous properties of neon and argon of a series of models to represent their interatomic fields ; (ii) the assumption of the equivalence of the repulsive fields of atomic or ionic cores of the same structure ( i . e ., Cl - and K + were assumed equivalent to A); (iii) the unique determination of the fields by a comparison of calculated and observed interatomic distances in the crystals NaF and KCl.


1999 ◽  
Vol 173 ◽  
pp. 289-293 ◽  
Author(s):  
J.R. Donnison ◽  
L.I. Pettit

AbstractA Pareto distribution was used to model the magnitude data for short-period comets up to 1988. It was found using exponential probability plots that the brightness did not vary with period and that the cut-off point previously adopted can be supported statistically. Examination of the diameters of Trans-Neptunian bodies showed that a power law does not adequately fit the limited data available.


1968 ◽  
Vol 11 (1) ◽  
pp. 169-178 ◽  
Author(s):  
Alan Gill ◽  
Charles I. Berlin

The unconditioned GSR’s elicited by tones of 60, 70, 80, and 90 dB SPL were largest in the mouse in the ranges around 10,000 Hz. The growth of response magnitude with intensity followed a power law (10 .17 to 10 .22 , depending upon frequency) and suggested that the unconditioned GSR magnitude assessed overall subjective magnitude of tones to the mouse in an orderly fashion. It is suggested that hearing sensitivity as assessed by these means may be closely related to the spectral content of the mouse’s vocalization as well as to the number of critically sensitive single units in the mouse’s VIIIth nerve.


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