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SOE: Fachverband Physik sozio-ökonomischer Systeme
SOE 9: Economic Models
SOE 9.3: Vortrag
Mittwoch, 11. März 2026, 12:00–12:15, GÖR/0226
Hallmarks of deception in asset-exchange models — •Kristian Blom1, Dmitrii E. Makarov2, and Aljaz Godec3 — 1Institute of Theoretical Physics, University of Münster — 2Department of Chemistry, The University of Texas at Austin — 3Mathematical bioPhysics group, MPI for Multidisciplinary Sciences
Asset-exchange models, such as the Bennati-Dregulescu-Yakovenko money game, have emerged in econophysics as simple models that capture generic features of wealth dynamics. In the BDY game, the wealth of a single player undergoes a one-dimensional random walk. Because the exchange probability of losing and gaining money are equal, one may surmise that this walk is unbiased, but this is not the case: the boundary condition that each player's wealth cannot be negative introduces a loss bias because of the possibility that an exchange partner has zero wealth. This results in an exponential steady-state distribution. Here, we extend the BDY game by introducing probabilistic cheaters that can misrepresent their financial status with a given probability. Cheaters deceive their exchange partners by claiming that they have no money, enabling them to evade potential losses. In a system consisting of honest players and cheaters, we show how cheating alters the transient dynamics as well as steady-state distributions of wealth. We identify a threshold probability for cheating beyond which cheaters accumulate more than half of the total money. Additionally, we show under which conditions cheating becomes beneficial and establish the existence of a critical cheating probability at which the wealth of cheaters undergoes a second-order discontinuity.
Keywords: Bennati-Dregulescu-Yakovenko model; Econophysics; Deception