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Inheritances, social classes, and wealth distribution

2021-10-27Journal article Open access
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dc.contributor.authorPatricio, Pedro
dc.contributor.authorAraujo, Nuno
dc.date.accessioned2022-06-03T08:22:05Z
dc.date.available2022-06-03T08:22:05Z
dc.date.issued2021-10-27
dc.description.abstractWe consider a simple theoretical model to investigate the impact of inheritances on the wealth distribution. Wealth is described as a finite resource, which remains constant over different generations and is divided equally among offspring. All other sources of wealth are neglected. We consider different societies characterized by a different offspring probability distribution. We find that, if the population remains constant, the society reaches a stationary wealth distribution. We show that inequality emerges every time the number of children per family is not always the same. For realistic offspring distributions from developed countries, the model predicts a Gini coefficient of G approximate to 0.3. If we divide the society into wealth classes and set the probability of getting married to depend on the distance between classes, the stationary wealth distribution crosses over from an exponential to a power-law regime as the number of wealth classes and the level of class distinction increase.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationPATRÍCIO, Pedro; ARAÚJO, Nuno A. M. – Inheritances, social classes, and wealth distribution. PLoS One. ISSN 1932-6203. Vol. 16, N.º 10 (2022), pp. 1-12.pt_PT
dc.identifier.doi10.1371/journal.pone.0259002pt_PT
dc.identifier.issn1932-6203
dc.identifier.urihttp://hdl.handle.net/10400.21/14687
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherPublic Library Sciencept_PT
dc.relationUIDB/ 00618/2020pt_PT
dc.relationCenter for Theoretical and Computational Physics
dc.relation.publisherversionhttps://journals.plos.org/plosone/article?id=10.1371/journal.pone.0259002pt_PT
dc.subjectInheritancespt_PT
dc.subjectSocial classespt_PT
dc.subjectWealth distributionpt_PT
dc.titleInheritances, social classes, and wealth distributionpt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleCenter for Theoretical and Computational Physics
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDP%2F00618%2F2020/PT
oaire.citation.endPage12pt_PT
oaire.citation.issue10pt_PT
oaire.citation.startPage1pt_PT
oaire.citation.titlePLoS Onept_PT
oaire.citation.volume16pt_PT
oaire.fundingStream6817 - DCRRNI ID
person.familyNamePatricio
person.familyNameAraujo
person.givenNamePedro
person.givenNameNuno
person.identifier94317
person.identifier.ciencia-idC616-BA77-E9C9
person.identifier.ciencia-id311C-5114-3346
person.identifier.orcid0000-0002-9050-9956
person.identifier.orcid0000-0002-1677-6060
person.identifier.ridA-2750-2009
person.identifier.ridB-6313-2008
person.identifier.scopus-author-id13607656900
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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