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An Economic Model of Coupled Exponential Maps

Author

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  • R. Lopez-Ruiz
  • J. Gonzalez-Estevez
  • M. G. Cosenza
  • J. R. Sanchez

Abstract

In this work, an ensemble of economic interacting agents is considered. The agents are arranged in a linear array where only local couplings are allowed. The deterministic dynamics of each agent is given by a map. This map is expressed by two factors. The first one is a linear term that models the expansion of the agent's economy and that is controlled by the {\it growth capacity parameter}. The second one is an inhibition exponential term that is regulated by the {\it local environmental pressure}. Depending on the parameter setting, the system can display Pareto or Boltzmann-Gibbs behavior in the asymptotic dynamical regime. The regions of parameter space where the system exhibits one of these two statistical behaviors are delimited. Other properties of the system, such as the mean wealth, the standard deviation and the Gini coefficient, are also calculated.

Suggested Citation

  • R. Lopez-Ruiz & J. Gonzalez-Estevez & M. G. Cosenza & J. R. Sanchez, 2007. "An Economic Model of Coupled Exponential Maps," Papers 0712.2684, arXiv.org.
    • Handle: RePEc:arx:papers:0712.2684
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    File URL: http://arxiv.org/pdf/0712.2684
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    1. J. R. Sanchez & R. Lopez-Ruiz, 2005. "A Model of Coupled-Maps for Economic Dynamics," Papers nlin/0507054, arXiv.org.
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