Zhu Chenge, Yang Guang, An Kenan, Huang Jiping
Department of Physics and State Key Laboratory of Surface Physics, Fudan University, Shanghai, China.
PLoS One. 2014 Jun 26;9(6):e100681. doi: 10.1371/journal.pone.0100681. eCollection 2014.
Wealth distribution has always been an important issue in our economic and social life, since it affects the harmony and stabilization of the society. Under the background of widely used financial tools to raise leverage these years, we studied the leverage effect on wealth distribution of a population in a controllable laboratory market in which we have conducted several human experiments, and drawn the conclusion that higher leverage leads to a higher Gini coefficient in the market. A higher Gini coefficient means the wealth distribution among a population becomes more unequal. This is a result of the ascending risk with growing leverage level in the market plus the diversified trading abilities and risk preference of the participants. This work sheds light on the effects of leverage and its related regulations, especially its impact on wealth distribution. It also shows the capability of the method of controllable laboratory markets which could be helpful in several fields of study such as economics, econophysics and sociology.
财富分配一直是我们经济和社会生活中的一个重要问题，因为它影响着社会的和谐与稳定。在近年来金融工具广泛用于提高杠杆率的背景下，我们在一个可控的实验室市场中研究了杠杆对人群财富分配的影响，在该市场中我们进行了多次人类实验，并得出结论：更高的杠杆率会导致市场中更高的基尼系数。更高的基尼系数意味着人群中的财富分配变得更加不平等。这是市场中杠杆水平上升带来的风险增加以及参与者多样化的交易能力和风险偏好的结果。这项工作揭示了杠杆及其相关监管的影响，特别是其对财富分配的影响。它还展示了可控实验室市场方法的能力，这可能在经济学、经济物理学和社会学等多个研究领域有所帮助。
