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This kind of simulation results in an exponential distribution, which is fairly equal compared all things considered. In an exponential distribution, most peopl
by scottmsul 9y ago
This kind of simulation results in an exponential distribution, which is fairly equal compared all things considered. In an exponential distribution, most people have roughly the same order of magnitude of wealth (10s to 100s of dollars). In real life, the bottom 99% follow an exponential distribution pretty closely, while the 1% follow a pareto distribution, which is WAY More unequal. The transition is very sharp too, and has been studied in econophysics models.
Brief introduction to econophysics for the mathematically inclined: https://arxiv.org/abs/0709.3662 https://arxiv.org/abs/0709.3662