A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the...A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the kinetic theory of rarefied gases, we construct a two-group kinetic model for the evolution of wealth distribution. Under the continuous trading limit, the Fokker–Planck equation is derived and its steady-state solution is obtained. For the non-Maxwellian collision kernel, we find a suitable redistribution operator to match the taxation. Our results illustrate that taxation and redistribution have the property to change the Pareto index.展开更多
Today, poverty is one of the most important problems in the world. This is not only the problem of poor people living in specific regions but also the problem of all people in general. Poverty is expected to decrease...Today, poverty is one of the most important problems in the world. This is not only the problem of poor people living in specific regions but also the problem of all people in general. Poverty is expected to decrease as the welfare level increases. The World Bank predicts that extreme poverty will disappear until 2030 but mentions significant hesitations in achieving this objective. Even though extreme poverty will have actually disappeared in 2030, the deep gap between the richest 20% and the poorest 20% will continue to maintain its presence. There are many reasons for poverty arising from individuals such as illiteracy, inexperience, and laziness. However, there are many reasons for poverty beyond the individual such as the management of the capital by a small group of people. While the capital continuously increases under the control of a narrow group, poor community deprived of increasing welfare benefits from it slightly and too late. In this case, the solutions that individuals striving to live below the poverty line can find on their own in order to keep alive remain quite limited. Islam has a shorter term solution for welfare share： Transferring a small amount of high-income group’s wealth to the low-income group. Through this worship called zakat, it is aimed to rid poor people of desperation. It is not theoretically impossible todevelop a method to reduce income inequality by taking the worship of zakat as a model.展开更多
In our simplified description‘wealth’is money(m).A kinetic theory of a gas like model of money is investigated where two agents interact(trade)selectively and exchange some amount of money between them so that sum o...In our simplified description‘wealth’is money(m).A kinetic theory of a gas like model of money is investigated where two agents interact(trade)selectively and exchange some amount of money between them so that sum of their money is unchanged and thus total money of all the agents remains conserved.The probability distributions of individual money(P(m)vs.m)is seen to be influenced by certain ways of selective interactions.The distributions shift away from Boltzmann-Gibbs like the exponential distribution,and in some cases distributions emerge with power law tails known as Pareto’s law(P(m)/m−(1+®)).The power law is also observed in some other closely related conserved and discrete models.A discussion is provided with numerical support to obtain insight into the emergence of power laws in such models.展开更多
This article describes and analyses the disparity in wealth distribution of Chinese residents, on the basis of results of sample surveys from 1995 to 2002. It finds an obvious worsening trend, mainly due to the rapid ...This article describes and analyses the disparity in wealth distribution of Chinese residents, on the basis of results of sample surveys from 1995 to 2002. It finds an obvious worsening trend, mainly due to the rapid widening of the urban-rural gap. The process of privatisation of urban housing has led to a narrowing of the wealth gap between urban residents, and has also led to a widening of the wealth gap between urban and rural residents, as well as the national wealth gap. As incomes from land decline, the relative weight of land value in rural residents＇ overall wealth possession has been decreasing and the role of land in narrowing the nation＇s urban-rural gap has been weakened. In addition, this article also holds that the financial assets of residents wiU play a greater role in enlarging the overall wealth distribution disparity.展开更多
After the snow disaster in south China and the massive earthquake in Sichuan Province in the first half of 2008, the nation showed its support by donating almost 100 billion yuan ($14.3billion). This has prompted a ch...After the snow disaster in south China and the massive earthquake in Sichuan Province in the first half of 2008, the nation showed its support by donating almost 100 billion yuan ($14.3billion). This has prompted a chorus of展开更多
Although China is experiencing a deterioration in wealth distribution where housing is playing a dominant role,this issue has received scant research attention despite its importance.Combining four rounds of the China...Although China is experiencing a deterioration in wealth distribution where housing is playing a dominant role,this issue has received scant research attention despite its importance.Combining four rounds of the China Household Finance Survey(CHFS)data,this paper measures and discusses wealth inequality in China,with a special emphasis on the contribution of housing.Our analysis reveals that housing is the largest contributor to wealth inequality,responsible for around 70 percent of total wealth inequality,and its contribution has been increasing over time.Our research ejforts have focused on the housing wealth disparity,exploring its composition from alternative perspectives.The results show that housing wealth inequality has also been rising over time and an absolute majority of housing wealth inequality is due to within-group gaps.Finally,we employ Wan's(2004)regression-based decomposition methodology to quantify the contributions of dijferent determinants to housing wealth disparity in China,and to demonstrate serious biases in the conventional approach that is often used to analyze housing wealth inequality.展开更多
This study is a detailed analysis of Speculation Game,a simple agent-based model of financial markets,in which the round-trip trading and the dynamic wealth evolution with variable trading volumes are implemented.Inst...This study is a detailed analysis of Speculation Game,a simple agent-based model of financial markets,in which the round-trip trading and the dynamic wealth evolution with variable trading volumes are implemented.Instead of herding behavior,the authors find that the heterogeneous holding periods in round-trip trades can contribute to the emergence of volatility clustering.In particular,the spontaneous redistribution of market wealth through repetitions of round-trip trades with non-uniform horizons can widen the wealth disparity and establish the Pareto distribution of the capital size.As a result,the intermittent placements of relatively big orders from endogenously emerged rich traders can bring on large fluctuations in price return.Empirical data are used to support the scenario derived from the model.展开更多
The Proof-of-Stake(PoS)consensus algorithm has been criticized in the literature and in several cryptocurrency communities,due to the so-called compounding effect:who is richer has more coins to stake,therefore a high...The Proof-of-Stake(PoS)consensus algorithm has been criticized in the literature and in several cryptocurrency communities,due to the so-called compounding effect:who is richer has more coins to stake,therefore a higher probability of being selected as a block validator and obtaining the corresponding rewards,thus becoming even richer.In this paper,we present a PoS simulator written in the Julia language that allows one to test several variants of PoS-based consensus algorithms,tweak their parameters,and observe how the distribution of cryptocurrency coins among users evolves over time.Such a tool can be used to investigate which combinations of parameter values allow to obtain a“fair”and stable consensus algorithm,in which,over the long term,no one gets richer or poorer by the mere act of validating blocks.Based on this investigation,we also introduce a new PoS-based consensus mechanism that allows the system to keep the wealth distribution stable even after a large number of epochs.展开更多
The initial establishment of the BRICS cooperation mechanism was based on economic cooperation.However,in recent years,as the global influence of the BRICS countries continues to rise,they have played an increasingly ...The initial establishment of the BRICS cooperation mechanism was based on economic cooperation.However,in recent years,as the global influence of the BRICS countries continues to rise,they have played an increasingly important role within the world power structure and are increasingly seen as a significant force in reshaping the new global governance pattern.This paper explores the contributions of the BRICS countries to global governance and their impact on the new global order from the perspective of international political economy.The study finds that the BRICS cooperation mechanism has not only improved the position of developing countries in the global wealth distribution,but also promoted the transfer and diffusion of structural power in the global South.At the same time,it aims to establish a more equitable and open new global order with the goals of sustainable development and common prosperity and development between the North and the South.From a practical perspective,the BRICS cooperation mechanism adheres to the development philosophy of mutual respect,inclusiveness,and openness,continuously strengthening exchanges,trade,and investment cooperation among them.Regular leaders'meetings,including ministerial talks and various working meetings,media forums,etc.,have been formed.Financial cooperation has been strengthened through the establishment of the BRICS Bank and contingency reserve arrangements,which have disseminated the voices of developing countries in global governance and contributed Chinese wisdom to the establishment of a new global development order.展开更多
基金Project supported by the National Natural Science Foundation of China(Grant No.11471263)the Natural Science Foundation of Xinjiang Uygur Autonomous Region,China(Grant No.2021D01B09)+1 种基金the Initial Research Foundation of Kashi University(Grant No.022024076)“Mathematics and Finance Research Centre Funding Project”,Dazhou Social Science Federation(Grant No.SCMF202305)。
文摘A non-Maxwellian collision kernel is employed to study the evolution of wealth distribution in a multi-agent society.The collision kernel divides agents into two different groups under certain conditions. Applying the kinetic theory of rarefied gases, we construct a two-group kinetic model for the evolution of wealth distribution. Under the continuous trading limit, the Fokker–Planck equation is derived and its steady-state solution is obtained. For the non-Maxwellian collision kernel, we find a suitable redistribution operator to match the taxation. Our results illustrate that taxation and redistribution have the property to change the Pareto index.
文摘Today, poverty is one of the most important problems in the world. This is not only the problem of poor people living in specific regions but also the problem of all people in general. Poverty is expected to decrease as the welfare level increases. The World Bank predicts that extreme poverty will disappear until 2030 but mentions significant hesitations in achieving this objective. Even though extreme poverty will have actually disappeared in 2030, the deep gap between the richest 20% and the poorest 20% will continue to maintain its presence. There are many reasons for poverty arising from individuals such as illiteracy, inexperience, and laziness. However, there are many reasons for poverty beyond the individual such as the management of the capital by a small group of people. While the capital continuously increases under the control of a narrow group, poor community deprived of increasing welfare benefits from it slightly and too late. In this case, the solutions that individuals striving to live below the poverty line can find on their own in order to keep alive remain quite limited. Islam has a shorter term solution for welfare share： Transferring a small amount of high-income group’s wealth to the low-income group. Through this worship called zakat, it is aimed to rid poor people of desperation. It is not theoretically impossible todevelop a method to reduce income inequality by taking the worship of zakat as a model.
文摘In our simplified description‘wealth’is money(m).A kinetic theory of a gas like model of money is investigated where two agents interact(trade)selectively and exchange some amount of money between them so that sum of their money is unchanged and thus total money of all the agents remains conserved.The probability distributions of individual money(P(m)vs.m)is seen to be influenced by certain ways of selective interactions.The distributions shift away from Boltzmann-Gibbs like the exponential distribution,and in some cases distributions emerge with power law tails known as Pareto’s law(P(m)/m−(1+®)).The power law is also observed in some other closely related conserved and discrete models.A discussion is provided with numerical support to obtain insight into the emergence of power laws in such models.
文摘This article describes and analyses the disparity in wealth distribution of Chinese residents, on the basis of results of sample surveys from 1995 to 2002. It finds an obvious worsening trend, mainly due to the rapid widening of the urban-rural gap. The process of privatisation of urban housing has led to a narrowing of the wealth gap between urban residents, and has also led to a widening of the wealth gap between urban and rural residents, as well as the national wealth gap. As incomes from land decline, the relative weight of land value in rural residents＇ overall wealth possession has been decreasing and the role of land in narrowing the nation＇s urban-rural gap has been weakened. In addition, this article also holds that the financial assets of residents wiU play a greater role in enlarging the overall wealth distribution disparity.
文摘After the snow disaster in south China and the massive earthquake in Sichuan Province in the first half of 2008, the nation showed its support by donating almost 100 billion yuan ($14.3billion). This has prompted a chorus of
基金Financial support from the Natural Science Foundation of China(Nos.71833003 and 72073091)the Higher Education Discipline Innovation Project(111 Project)(No.B16040)is acknowledged.
文摘Although China is experiencing a deterioration in wealth distribution where housing is playing a dominant role,this issue has received scant research attention despite its importance.Combining four rounds of the China Household Finance Survey(CHFS)data,this paper measures and discusses wealth inequality in China,with a special emphasis on the contribution of housing.Our analysis reveals that housing is the largest contributor to wealth inequality,responsible for around 70 percent of total wealth inequality,and its contribution has been increasing over time.Our research ejforts have focused on the housing wealth disparity,exploring its composition from alternative perspectives.The results show that housing wealth inequality has also been rising over time and an absolute majority of housing wealth inequality is due to within-group gaps.Finally,we employ Wan's(2004)regression-based decomposition methodology to quantify the contributions of dijferent determinants to housing wealth disparity in China,and to demonstrate serious biases in the conventional approach that is often used to analyze housing wealth inequality.
基金supported by JSPS KAKENHI under Grant Nos.JP17J09156 and JP20J00107。
文摘This study is a detailed analysis of Speculation Game,a simple agent-based model of financial markets,in which the round-trip trading and the dynamic wealth evolution with variable trading volumes are implemented.Instead of herding behavior,the authors find that the heterogeneous holding periods in round-trip trades can contribute to the emergence of volatility clustering.In particular,the spontaneous redistribution of market wealth through repetitions of round-trip trades with non-uniform horizons can widen the wealth disparity and establish the Pareto distribution of the capital size.As a result,the intermittent placements of relatively big orders from endogenously emerged rich traders can bring on large fluctuations in price return.Empirical data are used to support the scenario derived from the model.
文摘The Proof-of-Stake(PoS)consensus algorithm has been criticized in the literature and in several cryptocurrency communities,due to the so-called compounding effect:who is richer has more coins to stake,therefore a higher probability of being selected as a block validator and obtaining the corresponding rewards,thus becoming even richer.In this paper,we present a PoS simulator written in the Julia language that allows one to test several variants of PoS-based consensus algorithms,tweak their parameters,and observe how the distribution of cryptocurrency coins among users evolves over time.Such a tool can be used to investigate which combinations of parameter values allow to obtain a“fair”and stable consensus algorithm,in which,over the long term,no one gets richer or poorer by the mere act of validating blocks.Based on this investigation,we also introduce a new PoS-based consensus mechanism that allows the system to keep the wealth distribution stable even after a large number of epochs.
文摘The initial establishment of the BRICS cooperation mechanism was based on economic cooperation.However,in recent years,as the global influence of the BRICS countries continues to rise,they have played an increasingly important role within the world power structure and are increasingly seen as a significant force in reshaping the new global governance pattern.This paper explores the contributions of the BRICS countries to global governance and their impact on the new global order from the perspective of international political economy.The study finds that the BRICS cooperation mechanism has not only improved the position of developing countries in the global wealth distribution,but also promoted the transfer and diffusion of structural power in the global South.At the same time,it aims to establish a more equitable and open new global order with the goals of sustainable development and common prosperity and development between the North and the South.From a practical perspective,the BRICS cooperation mechanism adheres to the development philosophy of mutual respect,inclusiveness,and openness,continuously strengthening exchanges,trade,and investment cooperation among them.Regular leaders'meetings,including ministerial talks and various working meetings,media forums,etc.,have been formed.Financial cooperation has been strengthened through the establishment of the BRICS Bank and contingency reserve arrangements,which have disseminated the voices of developing countries in global governance and contributed Chinese wisdom to the establishment of a new global development order.
