This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Ideal-Gas Like Markets: Effect of Savings

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Arnab Chatterjee
Bikas K Chakrabarti
Abstract

We discuss the ideal gas like models of a trading market. The effect of savings on the distribution have been thoroughly reviewed. The market with fixed saving factors leads to a Gamma-like distribution. In a market with quenched random saving factors for its agents we show that the steady state income ($m$) distribution $P(m)$ in the model has a power law tail with Pareto index $\nu$ equal to unity. We also discuss the detailed numerical results on this model. We analyze the distribution of mutual money difference and also develop a master equation for the time development of $P(m)$. Precise solutions are then obtained in some special cases.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://arxiv.org/abs/physics/0507136
File Format: text/html
File Function: Abstract
Download Restriction: no
File URL: http://arxiv.org/pdf/physics/0507136
File Format: application/pdf
File Function: Latest version
Download Restriction: no

Publisher Info
Paper provided by arXiv.org in its series Quantitative Finance Papers with number physics/0507136.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: Jul 2005
Date of revision: Jul 2005
Handle: RePEc:arx:papers:physics/0507136

Contact details of provider:
Web page: http://arxiv.org/

For technical questions regarding this item, or to correct its listing, contact: (arXiv administrators).

Related research
Keywords:

Other versions of this item:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. G. Willis & J. Mimkes, 2004. "Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution," Quantitative Finance Papers cond-mat/0406694, arXiv.org. [Downloadable!]
  2. Sitabhra Sinha, 2005. "Evidence for Power-law tail of the Wealth Distribution in India," Quantitative Finance Papers cond-mat/0502166, arXiv.org. [Downloadable!]
  3. Karen E. Dynan & Jonathan Skinner & Stephen P. Zeldes, 2004. "Do the Rich Save More?," Journal of Political Economy, University of Chicago Press, vol. 112(2), pages 397-444, April. [Downloadable!] (restricted)
    Other versions:
  4. Geoff Willis & Juergen Mimkes, 2004. "Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution," Microeconomics 0408001, EconWPA. [Downloadable!]
  5. Fabio Clementi & Mauro Gallegati, 2005. "Power Law Tails in the Italian Personal Income Distribution," Microeconomics 0505005, EconWPA. [Downloadable!]
    Other versions:
Full references

Statistics
Access and download statistics

Did you know? You can use IDEAS to provide links to papers and articles in your course syllabus.

This page was last updated on 2009-12-21.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.