A Mathematical Model of Universal Basic Income and Its Numerical Simulations

In this paper, an elementary mathematical model describing the introduction of a universal basic income in a closed market society is constructed. The model is formulated in terms of a system of nonlinear ordinary differential equations, each of which gives account of how the number of individuals i...

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Autor principal:	Maria Letizia Bertotti
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	mathematical model universal basic income numerical simulations Industrial engineering. Management engineering T55.4-60.8 Electronic computers. Computer science QA75.5-76.95
Acceso en línea:	https://doaj.org/article/087242fda8ff4598a1608d6f7b7d64d7
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spelling	oai:doaj.org-article:087242fda8ff4598a1608d6f7b7d64d72021-11-25T16:13:17ZA Mathematical Model of Universal Basic Income and Its Numerical Simulations10.3390/a141103311999-4893https://doaj.org/article/087242fda8ff4598a1608d6f7b7d64d72021-11-01T00:00:00Zhttps://www.mdpi.com/1999-4893/14/11/331https://doaj.org/toc/1999-4893In this paper, an elementary mathematical model describing the introduction of a universal basic income in a closed market society is constructed. The model is formulated in terms of a system of nonlinear ordinary differential equations, each of which gives account of how the number of individuals in a certain income class changes in time. Societies ruled by different fiscal systems (with no taxes, with taxation and redistribution, with a welfare system) are considered and the effect of the presence of a basic income in the various cases is analysed by means of numerical simulations. The main findings are that basic income effectively acts as a tool of poverty alleviation: indeed, in its presence the portion of individuals in the poorest classes and economic inequality diminish. Of course, the issue of a universal basic income in the real world is more complex and involves a variety of aspects. The goal here is simply to show how mathematical models can help in forecasting scenarios resulting from one or the other policy.Maria Letizia BertottiMDPI AGarticlemathematical modeluniversal basic incomenumerical simulationsIndustrial engineering. Management engineeringT55.4-60.8Electronic computers. Computer scienceQA75.5-76.95ENAlgorithms, Vol 14, Iss 331, p 331 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	mathematical model universal basic income numerical simulations Industrial engineering. Management engineering T55.4-60.8 Electronic computers. Computer science QA75.5-76.95
spellingShingle	mathematical model universal basic income numerical simulations Industrial engineering. Management engineering T55.4-60.8 Electronic computers. Computer science QA75.5-76.95 Maria Letizia Bertotti A Mathematical Model of Universal Basic Income and Its Numerical Simulations
description	In this paper, an elementary mathematical model describing the introduction of a universal basic income in a closed market society is constructed. The model is formulated in terms of a system of nonlinear ordinary differential equations, each of which gives account of how the number of individuals in a certain income class changes in time. Societies ruled by different fiscal systems (with no taxes, with taxation and redistribution, with a welfare system) are considered and the effect of the presence of a basic income in the various cases is analysed by means of numerical simulations. The main findings are that basic income effectively acts as a tool of poverty alleviation: indeed, in its presence the portion of individuals in the poorest classes and economic inequality diminish. Of course, the issue of a universal basic income in the real world is more complex and involves a variety of aspects. The goal here is simply to show how mathematical models can help in forecasting scenarios resulting from one or the other policy.
format	article
author	Maria Letizia Bertotti
author_facet	Maria Letizia Bertotti
author_sort	Maria Letizia Bertotti
title	A Mathematical Model of Universal Basic Income and Its Numerical Simulations
title_short	A Mathematical Model of Universal Basic Income and Its Numerical Simulations
title_full	A Mathematical Model of Universal Basic Income and Its Numerical Simulations
title_fullStr	A Mathematical Model of Universal Basic Income and Its Numerical Simulations
title_full_unstemmed	A Mathematical Model of Universal Basic Income and Its Numerical Simulations
title_sort	mathematical model of universal basic income and its numerical simulations
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/087242fda8ff4598a1608d6f7b7d64d7
work_keys_str_mv	AT marialetiziabertotti amathematicalmodelofuniversalbasicincomeanditsnumericalsimulations AT marialetiziabertotti mathematicalmodelofuniversalbasicincomeanditsnumericalsimulations
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A Mathematical Model of Universal Basic Income and Its Numerical Simulations

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