Why the rich become richer: insights from an agent-based model
by Saul Desiderio; Siyan Chen
International Journal of Computational Economics and Econometrics (IJCEE), Vol. 6, No. 3, 2016

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 wealth follows a power law. From a dynamical point of view, it is found that revenues from financial investments are the key factor to sustaining wealth accumulation. In other words, wealth-dependent asymmetries among agents generates the power law tail.

Online publication date: Sat, 25-Jun-2016

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