Yard-Sale model of wealth inequality

Agent-based model referenced in Liu et al. paper; foundational to computational wealth distribution modeling.

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concept

Kang K. L. Liu
introducesstudies
Researcher on wealth distribution dynamics and agent-based economic growth models; appears in multiple foundational papers.
Wealth concentration models
implements
Central question: whether existing models fail to account for voluntary wealth-sharing mechanisms that existed historically.
N. Lubbers
studies
Collaborator on generalized asset exchange and mean-field models of wealth dynamics.

cosine ≥ 0.65 · no typed edge

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Most models focus on market-based or state-enforced redistribution rather than voluntary/community-based wealth-sharing mechanisms that existed in pre-modern societies.claim0.717
Key finding: contemporary economics literature systematically excludes historical voluntary mechanisms.
GED model (growth, exchange, and distribution)framework0.713
Mean-field theory model describing phase transitions in wealth distribution with economic growth.
Stochastic model of wealth distribution with agent state transitionsframework0.697
Model treating agents as inactive/active with random state transitions; foundational work by Bose & Banerjee.
Model welfareconcept0.687
Motivation for studying LLM internal states: determining whether distress reports reflect genuine internal states
auctionconcept0.682
Competitive bidding mechanism in the game where players vie for animal cards.
Voluntary wealth-sharing mechanismsconcept0.680
Historical mechanisms excluded from contemporary models; existed for millennia across multiple traditions.
Expected Utility Theoryframework0.680
Economic framework for decision-making under risk.
Tudge et al. (2016) Model of Division of Labour Evolutionmethod0.678
Two-player model where natural selection evolves phenotypic plasticity to solve division of labour games, serving as minimal developmental model