Berlin 2005 – scientific programme

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AKSOE: Physik sozio-ökonomischer Systeme

AKSOE 8: Poster Session

AKSOE 8.6: Poster

Monday, March 7, 2005, 14:00–15:30, Poster TU E

Envy: from the economic theory to the computer simulation — •Elena Ramirez-Barrios, Juan G. Diaz-Ochoa, and Johannes J Schneider — Institute of Physics, Johannes Gutenberg University of Mainz, Staudinger Weg 7, 55099 Mainz, Germany

The normative meaning and the low measurability make ”Fairness” a concept that is very difficult to apply, but occupies a good place in the political decisions as it is e.g. used as an indicator of social welfare. Using Monte Carlo, we simulate with two different models the economical agents’ behavior and measure the fairness exploring different concepts from the economical theory, finding a trend behavior such that their improved actions result in a justice horizon as suggested by the first and second welfare theorems. In our models, we consider two different situations in an economy without production: each agent owns an initial allocation of a finite number of commodities. The price system shall avoid that the agents choose a net trade according to their preferences, which is maximal in their budget set. These scenarios should result in an equilibrium under optimal conditions. Fairness follows the fact that all agents have the same trading possibilities and the same access to the entire set of commodities. Also the information flow between the agents and their personal comparisons play a fundamental role.