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A game of wealth inequality: A Monte Carlo simulation of wealth inequality using Monopoly
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Statistics.
2019 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The debate of economic inequality is long-lived and have in the recent years come to be reignited. Although there is little research that supports fully eradicating wealth inequality, the subject of appropriate levels of inequality is an extensively discussed matter. This paper uses a model based upon the board game Monopoly to discuss the drivers of wealth inequality, and study the effect of introducing georgistic, income and wealth taxation respectively in the game. Using iterated simulations the results yielded display evidence of wealth and georgistic taxation having a noteworthy impact on wealth inequality at certain stages of the game. Additionally, correctly specified income taxation yields notable results. Despite the model’s simplicity, the results found share interesting similarities with empirical evidence.

Place, publisher, year, edition, pages
2019. , p. 37
Keywords [en]
Monte Carlo simulation, GINI coefficient, Wealth inequality, Georgism, Taxation, Monopoly
National Category
Probability Theory and Statistics
Identifiers
URN: urn:nbn:se:uu:diva-385498OAI: oai:DiVA.org:uu-385498DiVA, id: diva2:1324592
Subject / course
Statistics
Educational program
Master Programme in Statistics
Supervisors
Examiners
Available from: 2019-06-18 Created: 2019-06-13 Last updated: 2019-06-18Bibliographically approved

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CiteExportLink to record
Permanent link

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Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf