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The Open Source Physics Project is supported by NSF DUE-0442581.

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Agent Based Growth, Exchange, and Distribution Model
written by Wolfgang Christian, Jan Tobochnik, and Harvey Gould
How does growth influence the distribution of wealth in a society? We investigate this question using a simple agent-based model that adds growth and its distribution to the basic Yard Sale Model for asset exchange. Our model economy consists of N agents (economic actors such as a person, family, or a company) which make economic decisions. Interacting agents are chosen randomly so that each agent participates, on average, in two transactions in one time step. After N transactions (one time step) the economy grows and the growth is distributed to the agents.
1 source code document is available
Subjects Levels Resource Types
Mathematical Tools
- Probability
- Statistics
Thermo & Stat Mech
- Probability
= Random Walks
- Statistical Physics
- Upper Undergraduate
- High School
- Lower Undergraduate
- Informal Education
- Instructional Material
= Interactive Simulation
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Access Rights:
Free access
License:
This material is released under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 license.
Rights Holder:
Wolfgang Christian
Keyword:
econophysics
Record Cloner:
Metadata instance created July 31, 2022 by Wolfgang Christian
Record Updated:
October 17, 2022 by Wolfgang Christian
Last Update
when Cataloged:
July 31, 2022
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