We discuss a Pareto macroeconomy (a) in a closed system with fixed total wealth and (b) in an open system with average mean wealth, and compare our results to a similar analysis in a super-open system (c) with unbounded wealth [J.-P. Bouchaud and M. Mézard, Physica A 282, 536 (2000)]. Wealth condensation takes place in the social phase for closed and open economies, while it occurs in the liberal phase for super-open economies. In the first two cases, the condensation is related to a mechanism known from the balls-in-boxes model, while in the last case, to the nonintegrable tails of the Pareto distribution. For a closed macroeconomy in the social phase, we point to the emergence of a “corruption” phenomenon: a sizeable fraction of the total wealth is always amassed by a single individual.
1 May 2004 in Physica A: Statistical Mechanics and its Applications
The introduction of a metric onto the space of parameters in models in Statistical Mechanics and beyond gives an alternative perspective on their phase structure. In such a geometrization, the scalar curvature, R, plays a central role. A non-interacting model has a flat geometry (R=0), while R diverges at the critical point of an interacting one. Here, the information geometry is studied for a number of solvable statistical-mechanical models.Comment: 6 pages with 1 figur
Multiplicative logarithmic corrections to scaling are frequently encountered in the critical behavior of certain statistical-mechanical systems. Here, a Lee-Yang zero approach is used to systematically analyze the exponents of such logarithms and to propose scaling relations between them. These proposed relations are then confronted with a variety of results from the literature.
We review some recent investigations of the 3d plaquette Ising model. This displays a strong first-order phase transition with unusual scaling properties due to the size-dependent degeneracy of the low-temperature phase. In particular, the leading scaling correction is modified from the usual inverse volume behaviour ∝ 1/L3 to 1/L2. The degeneracy also has implications for the magnetic order in the model which has an intermediate nature between local and global order and gives rise to novel fracton topological defects in a related quantum Hamiltonian.