Money Exchange Model and a general Outlook
AbstractThe Kinetic Gas Theory like two-agent money exchange models, recently introduced in the Econophysics of Wealth distributions, are revisited. The emergence of Boltzmann-Gibbs like distribution of individual money to Pareto's law in the tail of the distribution is examined in terms of 2x2 Transition matrix with a general and simple oulook. Some additional interesting results are also reported.
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Date of creation: May 2005
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- Lavička, H. & Lin, L. & Novotný, J., 2010. "Employment, Production and Consumption model: Patterns of phase transitions," Physica A: Statistical Mechanics and its Applications, Elsevier, Elsevier, vol. 389(8), pages 1708-1720.
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