Simulating the wealth distribution with a Richest-Following strategy on scale-free network

✍ Scribed by Mao-Bin Hu; Rui Jiang; Qing-Song Wu; Yong-Hong Wu

• Book ID: 103882707
• Publisher: Elsevier Science
• Year: 2007
• Tongue: English
• Weight: 537 KB
• Volume: 381
• Category: Article
• ISSN: 0378-4371
• DOI: 10.1016/j.physa.2007.03.021

✦ Synopsis

In this paper, we investigate the wealth distribution with agents playing evolutionary games on a scale-free social network adopting the Richest-Following strategy. Pareto's power-law distribution (1897) of wealth is demonstrated with power factor in agreement with that of US or Japan. Moreover, the agent's personal wealth is proportional to its number of contacts (connectivity), and this leads to the phenomenon that the rich gets richer and the poor gets relatively poorer, which agrees with the Matthew Effect.