Inheritances, social classes, and wealth distribution
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.21/14687 |
Resumo: | We 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. |
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Inheritances, social classes, and wealth distributionInheritancesSocial classesWealth distributionWe 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.Public Library ScienceRCIPLPatricio, PedroAraujo, Nuno2022-06-03T08:22:05Z2021-10-272021-10-27T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.21/14687engPATRÍCIO, Pedro; ARAÚJO, Nuno A. M. – Inheritances, social classes, and wealth distribution. PLoS One. ISSN 1932-6203. Vol. 16, N.º 10 (2022), pp. 1-12.1932-620310.1371/journal.pone.0259002info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-08-03T10:11:13Zoai:repositorio.ipl.pt:10400.21/14687Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:22:27.200472Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Inheritances, social classes, and wealth distribution |
title |
Inheritances, social classes, and wealth distribution |
spellingShingle |
Inheritances, social classes, and wealth distribution Patricio, Pedro Inheritances Social classes Wealth distribution |
title_short |
Inheritances, social classes, and wealth distribution |
title_full |
Inheritances, social classes, and wealth distribution |
title_fullStr |
Inheritances, social classes, and wealth distribution |
title_full_unstemmed |
Inheritances, social classes, and wealth distribution |
title_sort |
Inheritances, social classes, and wealth distribution |
author |
Patricio, Pedro |
author_facet |
Patricio, Pedro Araujo, Nuno |
author_role |
author |
author2 |
Araujo, Nuno |
author2_role |
author |
dc.contributor.none.fl_str_mv |
RCIPL |
dc.contributor.author.fl_str_mv |
Patricio, Pedro Araujo, Nuno |
dc.subject.por.fl_str_mv |
Inheritances Social classes Wealth distribution |
topic |
Inheritances Social classes Wealth distribution |
description |
We 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. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-10-27 2021-10-27T00:00:00Z 2022-06-03T08:22:05Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.21/14687 |
url |
http://hdl.handle.net/10400.21/14687 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
PATRÍCIO, 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. 1932-6203 10.1371/journal.pone.0259002 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Public Library Science |
publisher.none.fl_str_mv |
Public Library Science |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799133496764006400 |