Effects of Saving and Spending Patterns on Holding Time Distribution
AbstractThe effects of saving and spending patterns on holding time distribution of money are investigated based on the ideal gas-like models. We show the steady-state distribution obeys an exponential law when the saving factor is set uniformly, and a power law when the saving factor is set diversely. The power distribution can also be obtained by proposing a new model where the preferential spending behavior is considered. The association of the distribution with the probability of money to be exchanged has also been discussed.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number physics/0507149.
Date of creation: Jul 2005
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Publication status: Published in the European Physical Journal B, 36(1), 149(2003)
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Web page: http://arxiv.org/
Other versions of this item:
- N. Ding & N. Xi & Y. Wang, 2003. "Effects of saving and spending patterns on holding time distribution," The European Physical Journal B - Condensed Matter and Complex Systems, Springer, vol. 36(1), pages 149-153, November.
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- Aoki,Masanao, 1998. "New Approaches to Macroeconomic Modeling," Cambridge Books, Cambridge University Press, number 9780521637695.
- Yougui Wang & Ning Ding & Ning Xi, 2005. "Prospects for Money Transfer Models," Papers physics/0507161, arXiv.org.
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- Arnab Chatterjee & Bikas K Chakrabarti, 2005. "Ideal-Gas Like Markets: Effect of Savings," Papers physics/0507136, arXiv.org, revised Jul 2005.
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