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The statistical distribution of money and the rate of money transference

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  • Ferrero, Juan C

Abstract

The distribution of money is analysed in connection with the Boltzmann distribution of energy in the degenerate states of molecules. Plots of the population density of income distribution for various countries are well reproduced by a Gamma function, confirming the validity of the statistical distribution at equilibrium. The equilibrium state is reached through pair wise money transference processes, independently of the shape of the initial distribution and also of the detailed nature of the money transactions between the economic agents.

Suggested Citation

  • Ferrero, Juan C, 2004. "The statistical distribution of money and the rate of money transference," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 341(C), pages 575-585.
    • Handle: RePEc:eee:phsmap:v:341:y:2004:i:c:p:575-585
    DOI: 10.1016/j.physa.2004.05.029
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    Cited by:

    1. repec:voc:wpaper:tech52012 is not listed on IDEAS
    2. Ngo-Hoang, Dai-Long, 2019. "A research paper of Hossein Sabzian (2019), Theories and Practice of Agent based Modeling: Some practical Implications for Economic Planners, ArXiv, 54p," AgriXiv xutyz, Center for Open Science.
    3. Park, Ji-Won & Kim, Chae Un & Isard, Walter, 2012. "Permit allocation in emissions trading using the Boltzmann distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(20), pages 4883-4890.
    4. repec:voc:wpaper:tech82012 is not listed on IDEAS
    5. Costas Efthimiou & Adam Wearne, 2016. "Household Income Distribution in the USA," Papers 1602.06234, arXiv.org.
    6. Anirban Chakraborti & Ioane Muni Toke & Marco Patriarca & Frédéric Abergel, 2011. "Econophysics review: II. Agent-based models," Post-Print hal-00621059, HAL.
    7. repec:voc:wpaper:tech32012 is not listed on IDEAS
    8. Soares, Abner D. & Moura Jr., Newton J. & Ribeiro, Marcelo B., 2016. "Tsallis statistics in the income distribution of Brazil," Chaos, Solitons & Fractals, Elsevier, vol. 88(C), pages 158-171.
    9. 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.
    10. Timothy J. Garrett, 2013. "Thermodynamics of long-run economic innovation and growth," Papers 1306.3554, arXiv.org.
    11. Ji-Won Park & Chae Un Kim & Walter Isard, 2011. "Permit Allocation in Emissions Trading using the Boltzmann Distribution," Papers 1108.2305, arXiv.org, revised Mar 2012.
    12. Patriarca, Marco & Chakraborti, Anirban & Germano, Guido, 2006. "Influence of saving propensity on the power-law tail of the wealth distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 369(2), pages 723-736.
    13. repec:voc:wpaper:tech72012 is not listed on IDEAS
    14. repec:voc:wpaper:tech22012 is not listed on IDEAS
    15. Hossein Sabzian & Mohammad Ali Shafia & Ali Maleki & Seyeed Mostapha Seyeed Hashemi & Ali Baghaei & Hossein Gharib, 2019. "Theories and Practice of Agent based Modeling: Some practical Implications for Economic Planners," Papers 1901.08932, arXiv.org.
    16. repec:voc:wpaper:tech12012 is not listed on IDEAS
    17. repec:voc:wpaper:tech62012 is not listed on IDEAS
    18. repec:voc:wpaper:tech92012 is not listed on IDEAS
    19. repec:voc:wpaper:tech42012 is not listed on IDEAS
    20. Hossein Sabzian & Alireza Aliahmadi & Adel Azar & Madjid Mirzaee, 2018. "Economic inequality and Islamic Charity: An exploratory agent-based modeling approach," Papers 1804.09284, arXiv.org.

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    Keywords

    Money distribution transference;

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