To model something - you need to have a hypothesis (assumption).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) = wo * ek*t ................ where wo and k are constants.
Another possible hypothesis could be that:
total wealth [w(t)] is decreasing exponentially, i.e.:
w(t) = wo * e-c*t ................ where wo 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.....
Could be - but your problem statement did not necessitate such complication. However it did not exclude "complication" either.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 + ... + wn. If we add one more person and he/she has to get a share of W, then the original n people will have less.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.