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Money exchange model and a general outlook

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  • Gupta, Abhijit Kar
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    Abstract

    The kinetic gas theory, like the two-agent money exchange model, recently introduced in the econophysics of wealth distributions, is revisited. The emergence of a Boltzmann–Gibbs-like distribution of money into Pareto's law in the tail of the distribution is examined in terms of a 2×2 transition matrix with a general and simplified outlook. Some additional interesting results are also reported.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0378437105004383
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    Bibliographic Info

    Article provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.

    Volume (Year): 359 (2006)
    Issue (Month): C ()
    Pages: 634-640

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    Handle: RePEc:eee:phsmap:v:359:y:2006:i:c:p:634-640

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    Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/

    Related research

    Keywords: Wealth distribution; Econophysics; Kinetic theory; Transition matrix; Random trading;

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    Cited by:
    1. Schinckus, C., 2013. "Between complexity of modelling and modelling of complexity: An essay on econophysics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(17), pages 3654-3665.
    2. Bertram Düring & Giuseppe Toscani, 2008. "International and Domestic Trading and Wealth Distribution," CoFE Discussion Paper 08-02, Center of Finance and Econometrics, University of Konstanz.
    3. G. Toscani & C. Brugna & S. Demichelis, 2012. "Kinetic models for the trading of goods," Papers 1208.6305, arXiv.org.
    4. Bertram Düring & Daniel Matthes & Giuseppe Toscani, 2008. "A Boltzmann-type Approach to the Formation of Wealth Distribution Curves," CoFE Discussion Paper 08-05, Center of Finance and Econometrics, University of Konstanz.

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