A STOCHASTIC MODEL OF WEALTH ACCUMULATION WITH CLASS DIVISION

被引：7

作者：

Russo, Alberto ^{[1
]}

机构：

[1] Univ Politecn Marche, Dept Econ & Social Sci, Ancona, Italy

来源：

METROECONOMICA | 2014年 / 65卷 / 01期

关键词：

INCOME-DISTRIBUTION; EUROPEAN-UNION; LAW; DISTRIBUTIONS; MARKETS;

D O I：

10.1111/meca.12021

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper is aimed at contributing to the literature on income and wealth inequality by proposing a simple stochastic model in which wealth accumulation depends on the social relation' between two classes: capitalists or workers. As a result, the society may evolve towards an unequal outcome with few rich and many poor individuals. We study the dynamic properties of the model by means of computer simulations. A maximum likelihood estimation procedure is applied to analyse the Pareto or power law tail of wealth distribution. We also provide a scenario analysis to explore the system's behaviour under alternative parameter settings.

引用

页码：1 / 35

页数：35

共 50 条

[31] STOCHASTIC SIX-VERTEX MODEL [J].

Borodin, Alexei ;

Corwin, Ivan ;

Gorin, Vadim .

DUKE MATHEMATICAL JOURNAL, 2016, 165 (03) :563-624

[32] A subdiffusive stochastic volatility jump model [J].

Dupret, Jean-Loup ;

Hainaut, Donatien .

QUANTITATIVE FINANCE, 2023, 23 (06) :979-1002

[33] Hyperbolic normal stochastic volatility model [J].

Choi, Jaehyuk ;

Liu, Chenru ;

Seo, Byoung Ki .

JOURNAL OF FUTURES MARKETS, 2019, 39 (02) :186-204

[34] Stochastic activation in a genetic switch model [J].

Hertz, John ;

Tyrcha, Joanna ;

Correales, Alvaro .

PHYSICAL REVIEW E, 2018, 98 (05)

[35] A Stochastic Model for Order Book Dynamics [J].

Cont, Rama ;

Stoikov, Sasha ;

Talreja, Rishi .

OPERATIONS RESEARCH, 2010, 58 (03) :549-563

[36] Sampling average approximation method for a class of stochastic Nash equilibrium problems [J].

Li, Pei-Yu ;

He, Zhi-Feng ;

Lin, Gui-Hua .

OPTIMIZATION METHODS & SOFTWARE, 2013, 28 (04) :785-795

[37] Entanglement entropy growth in stochastic conformal field theory and the KPZ class [J].

Bernard, Denis ;

Le Doussal, Pierre .

EPL, 2020, 131 (01)

[38] OPTIMAL GAUSSIAN DENSITY ESTIMATES FOR A CLASS OF STOCHASTIC EQUATIONS WITH ADDITIVE NOISE [J].

Nualart, David ;

Quer-Sardanyons, Lluis .

INFINITE DIMENSIONAL ANALYSIS QUANTUM PROBABILITY AND RELATED TOPICS, 2011, 14 (01) :25-34

[39] Evolution of consumption distribution and model of wealth distribution in China between 1995 and 2012 [J].

Gao, Li .

PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 2015, 429 :76-86

[40] The Alpha-Heston stochastic volatility model [J].

Jiao, Ying ;

Ma, Chunhua ;

Scotti, Simone ;

Zhou, Chao .

MATHEMATICAL FINANCE, 2021, 31 (03) :943-978

← 1 2 3 4 5 →