Bouchaud-M\'ezard model on a random network
classification
🌊 nlin.AO
cond-mat.dis-nnq-fin.ST
keywords
resultsbouchaud-mezardmodelnetworkobtainedrandomwealth
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We studied the Bouchaud-M\'ezard(BM) model, which was introduced to explain Pareto's law in a real economy, on a random network. Using "adiabatic and independent" assumptions, we analytically obtained the stationary probability distribution function of wealth. The results shows that wealth-condensation, indicated by the divergence of the variance of wealth, occurs at a larger $J$ than that obtained by the mean-field theory, where $J$ represents the strength of interaction between agents. We compared our results with numerical simulation results and found that they were in good agreement.
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