Summary
International Symposium on Nonlinear Theory and its Applications
2005
Session Number:4-2-3
Session:
Number:4-2-3-3
Scaling Property of Wealth Concentration in a Model of Artificial Market
Mieko Tanaka-Yamawaki, Seiji Tokuoka, Masashi Mishima,
pp.298-300
Publication Date:2005/10/18
Online ISSN:2188-5079
Summary:
This paper deals with the scaling property observed in the accumulated wealth distribution known as Pareto’s law in a model of artificial market. Assuming a simple model of independent agents playing minority game, we discuss the condition for the wealth distribution to satisfy the scaling property having Pareto’s index in the range of empirical value.