Heriot-Watt Mathematics Report Series
HWM00-26, 2 Dec 2000
Condensation of Wealth in Pareto Macro-Economics
Z Burda, J Jurkiewicz, M Nowak and D Johnston
Abstract
We disccuss a Pareto macro-economy in three different ensembles:
(a) closed, (b) open, and (c) super-open. In each case we observe a
phenomenon of wealth condensation. For (a) and (b), this condensation
takes place in the social economy regime, whereas for (c) it happens
for a liberal economy. In the first two cases, the condensation is related
to a surplus anomaly known from the balls-in-boxes model;
in the last, to the non-integrable tails of the Pareto distribution
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