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/lp/inderscience-publishers/why-the-rich-become-richer-insights-from-an-agent-based-model-CGoCmE3xKq
- Publisher
- Inderscience Publishers
- Copyright
- Copyright © 2016 Inderscience Enterprises Ltd.
- ISSN
- 1757-1170
- eISSN
- 1757-1189
- DOI
- 10.1504/IJCEE.2016.077249
- Publisher site
- See Article on Publisher Site
Abstract
The aim of this paper is to investigate the reason why the rich get richer in an agent-based macroeconomic model. It shows that simulated top income and follows a power law. From a dynamical point of view, it is found that revenues from financial investments are the key factor to sustaining accumulation. In other words, -dependent asymmetries among agents generates the power law tail. Keywords: agent-based model; income distribution; distribution; Gini coefficient; inequality. Reference to this paper should be made as follows: Desiderio, S. and Chen, S. (2016) `Why the rich become richer: insights from an agent-based model', Int. J. Computational Economics and Econometrics, Vol. 6, No. 3, pp.258275. Biographical notes: Saul Desiderio received a PhD in Economics in 2008 from the Polytechnic University of Ancona. He is an Associate Professor of Economics at the Business School of Shantou University, China. He has been working on agent-based modelling and game theory. Siyan Chen received a PhD in Economics in 2011 from the Polytechnic University of Ancona. She is an Associate Professor of Economics at the Business School of Shantou University, China. Her research interests focus on agent-based modelling of income distribution and debt. This paper is a revised
Journal
International Journal of Computational Economics and Econometrics – Inderscience Publishers
Published: Jan 1, 2016