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Kinetic exchange models in studying socio-economic phenomena| old_uid | 10547 |
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| title | Kinetic exchange models in studying socio-economic phenomena |
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| start_date | 2011/12/09 |
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| schedule | 13h30-14h30 |
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| online | no |
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| summary | In this talk I will first review a kinetic wealth-exchange model introduced by
Angle in 1986 [1] and further developed since then [1,2,3,4]. The main model
outcome is the prediction of the wealth distribution in the society. Comparison
with empirical data, and the analytical fitting forms for such wealth
distributions will be discussed. The micro-economic formulation of such
models will be also mentioned [5], which establishes the link between the
principles of maximum entropy in physics and utility maximization in economics.
Then I will also briefly review a minimal multi-agent model [6] for the
collective dynamics of opinion formation (based on the similar
kinetic exchange dynamics studied in the above context of wealth distribution),
and its simple variants and extensions that have been
proposed recently by others [7,8]. These models have an intriguing spontaneous
symmetry breaking transition to polarized opinion state
starting from non-polarized opinion state, and are very simple models to study
critical phenomena of statistical physics. We provide mean
field estimates for the critical points, which are numerically supported with
reasonable accuracy.
[1] J. Angle, Social Forces 65, 293 (1986); J. Math. Sociol. 26, 217 (2002)
[2] E. Bennati, Rivista Internazionale di Scienze Economiche e Commerciali 35,
735 (1988)
[3] A. Chakraborti, B. K. Chakrabarti, Eur. Phys. J. B 17, 167 (2000)
[4] A. Dragulescu, V.M. Yakovenko, Eur. Phys. J. B 17, 723 (2000)
[5] A. S. Chakrabarti, B. K. Chakrabarti, Economics: The Open-Access,
Open-Assessment E-Journal, Vol. 4, 2010-4 (2010).
[6] M. Lallouache, A. S. Chakrabarti, A. Chakraborti & B. K. Chakrabarti, Phys.
Rev. E 82, 056112 (2010)
[7] P. Sen, Phys. Rev. E 83, 016108 (2011)
[8] S. Biswas et al J. Phys.: Conf. Ser. 297, 012004 (2011). |
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| responsibles | Berestycki, Nadal |
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