Wealth condensation in a Barabasi-Albert network |
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Authors: | J Vázquez-Montejo R Huerta-Quintanilla |
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Institution: | a Departamento de Fisica Aplicada, Centro de Investigación y de Estudios Avanzados del IPN, U-Merida, Mexico b Facultad de Fisica e Inteligencia Artificial, Universidad Veracruzana, Lomas del Estadio S/N, Xalapa, Veracruz, Mexico |
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Abstract: | We study the flow of money among agents in a Barabasi-Albert (BA) scale free network, where each network node represents an agent and money exchange interactions are established through links. The system allows money trade between two agents at a time, betting a fraction f of the poorer’s agent wealth. We also allow for the bet to be biased, giving the poorer agent a winning probability p. In the no network case there is a phase transition involving a relationship between p and f. In the networked case, we also found a condensation interface, however, this is not a complete condensation due to the presence of clusters in the network and its topology. As can be expected, the winner is always a well-connected agent, but we also found that the mean wealth decreases with the agents’ connectivity. |
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Keywords: | Econophysics Scale free networks Gambling Power laws Wealth distribution |
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