Modeling wealth distribution for 100 reachest people in south-eastern Europe

Abstract

This paper presents modeling of wealth for 100 richest people in South-Eastern Europe using data from article Vprost monthly. For modeling we applied generalized Lotka-Volterra (GLV) model. This paper initially provides theoretical background of this model, following presentation results of numerical simulation of generalized Lotka-Volterra (GLV) model. In addition, we developed software for numerical simulation using programming language C#. In our work we tried to determine that GLV model is financial market model which reflect power law (Pareto) for probability distribution of wealth very well. Thus, we find that wealth for 100 richest people in South-Eastern Europe is distributed according to Pareto distribution.