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Phase Transitions in Economic Inequality:Taxation and Extremal Replacement Dynamics

Giordano, Lautaro et al.
arXiv (OAI Expanded) · Papers
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physics-and-society
We present a minimal agent-based model of interacting agents characterized by their wealth to study taxation and inequality in a non-conservative economy. Wealth evolves through an extremal stochastic replacement process in which the poorest agent has its wealth replaced by a new random value, finan
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