Modeling Behaviour

[AlexM]

If I say that the more people you have, the thinner the wealth is spread; how would I go about modeling such behavior?

 

[Deleted member 4993]

If I say that the more people you have, the thinner the wealth is spread; how would I go about modeling such behavior?

To model something - you need to have a hypothesis (assumption).

One possible hypothesis could be that:

total wealth [w(t)] is increasing exponentially, i.e.:

w(t) = w_o * e^k*t ................ where w_o and k are constants.

Another possible hypothesis could be that:

total wealth [w(t)] is decreasing exponentially, i.e.:

w(t) = w_o * e^-c*t ................ where w_o and c are constants.

These are hypotheses - so you can assume anything as long as you can tell "why".

Now you have to assume the relationship between total wealth and personal wealth. One such relationship could be:

(# of people) * (personal wealth) = total wealth [w(t)]

Continue.....

 

[AlexM]

To model something - you need to have a hypothesis (assumption).

One possible hypothesis could be that:

total wealth [w(t)] is increasing exponentially, i.e.:

w(t) = w_o * e^k*t ................ where w_o and k are constants.

Another possible hypothesis could be that:

total wealth [w(t)] is decreasing exponentially, i.e.:

w(t) = w_o * e^-c*t ................ where w_o and c are constants.

These are hypotheses - so you can assume anything as long as you can tell "why".

Now you have to assume the relationship between total wealth and personal wealth. One such relationship could be:

(# of people) * (personal wealth) = total wealth [w(t)]

Continue.....

Ok.

I guess I was overthinking it.

It thought that I would have to create a model using a series summation. Where the sum would equal to the total populace.

 

[Deleted member 4993]

Ok.

I guess I was overthinking it.

It thought that I would have to create a model using a series summation. Where the sum would equal to the total populace.

Could be - but your problem statement did not necessitate such complication. However it did not exclude "complication" either.

By the way, you could assume much simpler 'MODEL' than what I proposed.

 

[lev888]

Ok.

I guess I was overthinking it.

It thought that I would have to create a model using a series summation. Where the sum would equal to the total populace.

If there are n people, current wealth W = w₁ + ... + w_n. If we add one more person and he/she has to get a share of W, then the original n people will have less.