Wealth condensation in pareto macroeconomies.

@article{Burda2002WealthCI,
  title={Wealth condensation in pareto macroeconomies.},
  author={Zdzislaw Burda and Desmond A. Johnston and Jerzy Jurkiewicz and Marek Kamiński and Maciej A. Nowak and G{\'a}bor Papp and Ismail Zahed},
  journal={Physical review. E, Statistical, nonlinear, and soft matter physics},
  year={2002},
  volume={65 2 Pt 2},
  pages={
          026102
        }
}
  • Z. Burda, D. Johnston, I. Zahed
  • Published 5 January 2001
  • Economics
  • Physical review. E, Statistical, nonlinear, and soft matter physics
We discuss a Pareto macroeconomy (a) in a closed system with fixed total wealth and (b) in an open system with average mean wealth, and compare our results to a similar analysis in a super-open system (c) with unbounded wealth [J.-P. Bouchaud and M. Mézard, Physica A 282, 536 (2000)]. Wealth condensation takes place in the social phase for closed and open economies, while it occurs in the liberal phase for super-open economies. In the first two cases, the condensation is related to a mechanism… 

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