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BEGIN:VEVENT
DTSTAMP:20260907T021058Z
LAST-MODIFIED:20130430T212321Z
DTSTART:20130506T150000Z
DTEND:20130506T160000Z
UID:event1107@bu.edu
URL:http://physics.bu.edu/internal/events/show/1107
SUMMARY:Agent Based Economics and the Relationship between Growth and Wealt
	h Inequality
DESCRIPTION:Featuring Nicholas Lubbers\n\nPart of the Preliminary Oral Exam
	.\n\nExamining Committee: William Klein\, Sid Redner\, Claudio Chamon\, Kev
	in Black\n\nAbstract:\nWealth disparity has been a topic of considerable so
	cial and political\ninterest in recent years. We seek to understand the rel
	ationship between\ngrowth and wealth disparity in the context of agent base
	d economics. We\nbegin by analyzing an ungrowing economy which is intrinsic
	ally unstable\,\nleading to a single agent who holds all of the wealth- 'we
	alth\ncondensation'. Then\, we introduce growth of various forms to underst
	and\nhow growth can lead to other (more equal) wealth distributions. We\nca
	tegorize the form and parameters of growth wherein wealth condensation\nmay
	 be either preserved or broken\, and when it is broken\, study the\nresulti
	ng distribution of wealth. We find that the breaking of wealth\ncondensatio
	n can be associated with a phase transition (though not\nnecessarily thermo
	dynamic in origin) between a state where the system\nexhibits non-ergodic b
	ehavior with dynamics similar to the geometric\nrandom walk\, and an effect
	ively ergodic rescaled steady state which might\nbe describable using a the
	rmodynamic equilibrium approach.
LOCATION:SCI 328\, 590 Commonwealth Avenue\, 02215
STATUS:CONFIRMED
CLASS:PUBLIC
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