A wealth distribution model with a non-Maxwellian collision kernel

A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the kinetic theory of rarefied gases, we construct a two-group kinetic model for the evolution of wealth distribution. Under the continuous trading limit, the Fokker–Planck equation is derived and its steady-state solution is obtained. For the non-Maxwellian collision kernel, we find a suitable redistribution operator to match the taxation. Our results illustrate that taxation and redistribution have the property to change the Pareto index.

Fight Against Poverty From the Islamic Point of View： The Wealth Distribution and Share

Today, poverty is one of the most important problems in the world. This is not only the problem of poor people living in specific regions but also the problem of all people in general. Poverty is expected to decrease as the welfare level increases. The World Bank predicts that extreme poverty will disappear until 2030 but mentions significant hesitations in achieving this objective. Even though extreme poverty will have actually disappeared in 2030, the deep gap between the richest 20% and the poorest 20% will continue to maintain its presence. There are many reasons for poverty arising from individuals such as illiteracy, inexperience, and laziness. However, there are many reasons for poverty beyond the individual such as the management of the capital by a small group of people. While the capital continuously increases under the control of a narrow group, poor community deprived of increasing welfare benefits from it slightly and too late. In this case, the solutions that individuals striving to live below the poverty line can find on their own in order to keep alive remain quite limited. Islam has a shorter term solution for welfare share： Transferring a small amount of high-income group’s wealth to the low-income group. Through this worship called zakat, it is aimed to rid poor people of desperation. It is not theoretically impossible todevelop a method to reduce income inequality by taking the worship of zakat as a model.

Role of Selective Interaction in Wealth Distribution

In our simplified description‘wealth’is money(m).A kinetic theory of a gas like model of money is investigated where two agents interact(trade)selectively and exchange some amount of money between them so that sum of their money is unchanged and thus total money of all the agents remains conserved.The probability distributions of individual money(P(m)vs.m)is seen to be influenced by certain ways of selective interactions.The distributions shift away from Boltzmann-Gibbs like the exponential distribution,and in some cases distributions emerge with power law tails known as Pareto’s law(P(m)/m−(1+®)).The power law is also observed in some other closely related conserved and discrete models.A discussion is provided with numerical support to obtain insight into the emergence of power laws in such models.

Empirical Analysis of Wealth Distribution Disparity of Chinese Residents and Its Changes

This article describes and analyses the disparity in wealth distribution of Chinese residents, on the basis of results of sample surveys from 1995 to 2002. It finds an obvious worsening trend, mainly due to the rapid widening of the urban-rural gap. The process of privatisation of urban housing has led to a narrowing of the wealth gap between urban residents, and has also led to a widening of the wealth gap between urban and rural residents, as well as the national wealth gap. As incomes from land decline, the relative weight of land value in rural residents＇ overall wealth possession has been decreasing and the role of land in narrowing the nation＇s urban-rural gap has been weakened. In addition, this article also holds that the financial assets of residents wiU play a greater role in enlarging the overall wealth distribution disparity.

Is Inheritance Tax the Answer to A Fair Distribution of Wealth?

After the snow disaster in south China and the massive earthquake in Sichuan Province in the first half of 2008, the nation showed its support by donating almost 100 billion yuan ($14.3billion). This has prompted a chorus of

What Drove Housing Wealth Inequality in China?

Although China is experiencing a deterioration in wealth distribution where housing is playing a dominant role,this issue has received scant research attention despite its importance.Combining four rounds of the China Household Finance Survey(CHFS)data,this paper measures and discusses wealth inequality in China,with a special emphasis on the contribution of housing.Our analysis reveals that housing is the largest contributor to wealth inequality,responsible for around 70 percent of total wealth inequality,and its contribution has been increasing over time.Our research ejforts have focused on the housing wealth disparity,exploring its composition from alternative perspectives.The results show that housing wealth inequality has also been rising over time and an absolute majority of housing wealth inequality is due to within-group gaps.Finally,we employ Wan's(2004)regression-based decomposition methodology to quantify the contributions of dijferent determinants to housing wealth disparity in China,and to demonstrate serious biases in the conventional approach that is often used to analyze housing wealth inequality.

Heterogeneous Round-Trip Trading and the Emergence of Volatility Clustering in Speculation Game

This study is a detailed analysis of Speculation Game,a simple agent-based model of financial markets,in which the round-trip trading and the dynamic wealth evolution with variable trading volumes are implemented.Instead of herding behavior,the authors find that the heterogeneous holding periods in round-trip trades can contribute to the emergence of volatility clustering.In particular,the spontaneous redistribution of market wealth through repetitions of round-trip trades with non-uniform horizons can widen the wealth disparity and establish the Pareto distribution of the capital size.As a result,the intermittent placements of relatively big orders from endogenously emerged rich traders can bring on large fluctuations in price return.Empirical data are used to support the scenario derived from the model.