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A comment on Peter Norvig's Economic Simulation (2018). Parent comment

Re:Peter Norvig's Economic Simulation (2018) by tasubotadas on Saturday February 22, 2020 @05:33AM (#22390297)
You are correct, but for the sake of the simulation, I think this works. However, instead of getting "wealth" you get here "a share of all wealth". Basically, you simulate the proportion of the total wealth.

In the real world, the total wealth increases but the proportion might still stay the same. You could basically get the same in the simulation if you were to add some linear offset that's based on the timestep.

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Re:Peter Norvig's Economic Simulation (2018) by ufov2 on Saturday February 22, 2020 @11:35AM (#22391844)
If the wealth created in a transaction is proportional to the size of the transaction, that sounds like it would increase the Gini coefficient. Most new wealth is created by transactions involving those with the most wealth, and redistributed to them. Probably simple to check in the simulation. Whether this is any good as a model for the real world is then a different question...
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Re:Peter Norvig's Economic Simulation (2018) by xapata on Saturday February 22, 2020 @12:39PM (#22392198)
You could make a parameter for that wealth creation factor and see if the value affects the system dynamics.
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