Yard-sale model

The yard-sale model is an kinetic exchange models of markets where agents interact in random pairs to trade wealth, akin to a yard sale where people exchange goods and money. In the economic model, two random agents trade a percentage of the poorer agent's wealth wealth concentration where a few agents become extremely rich and most become poor even with fair rules.

The yard sale model is one of the most commonly used models to describe wealth distribution.

More recent versions of the model include wealth redistribution and Wealth attained advantage.

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