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Money exchange model and a general outlook

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  • Gupta, Abhijit Kar

Abstract

The kinetic gas theory, like the two-agent money exchange model, recently introduced in the econophysics of wealth distributions, is revisited. The emergence of a Boltzmann–Gibbs-like distribution of money into Pareto's law in the tail of the distribution is examined in terms of a 2×2 transition matrix with a general and simplified outlook. Some additional interesting results are also reported.

Suggested Citation

  • Gupta, Abhijit Kar, 2006. "Money exchange model and a general outlook," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 359(C), pages 634-640.
    • Handle: RePEc:eee:phsmap:v:359:y:2006:i:c:p:634-640
    DOI: 10.1016/j.physa.2005.04.038
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    Citations

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    Cited by:

    1. G. Toscani & C. Brugna & S. Demichelis, 2012. "Kinetic models for the trading of goods," Papers 1208.6305, arXiv.org.
    2. Juan Pablo Pinasco & Mauro Rodríguez Cartabia & Nicolas Saintier, 2018. "A Game Theoretic Model of Wealth Distribution," Dynamic Games and Applications, Springer, vol. 8(4), pages 874-890, December.
    3. Néda, Zoltán & Gere, István & Biró, Tamás S. & Tóth, Géza & Derzsy, Noemi, 2020. "Scaling in income inequalities and its dynamical origin," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 549(C).
    4. 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.
    5. Düring, Bertram & Matthes, Daniel & Toscani, Giuseppe, 2008. "A Boltzmann-type approach to the formation of wealth distribution curves," CoFE Discussion Papers 08/05, University of Konstanz, Center of Finance and Econometrics (CoFE).
    6. Victor M. Yakovenko & J. Barkley Rosser, 2009. "Colloquium: Statistical mechanics of money, wealth, and income," Papers 0905.1518, arXiv.org, revised Dec 2009.
    7. Zoltan Neda & Istvan Gere & Tamas S. Biro & Geza Toth & Noemi Derzsy, 2019. "Scaling in Income Inequalities and its Dynamical Origin," Papers 1911.02449, arXiv.org, revised Mar 2020.
    8. Düring, Bertram & Toscani, Giuseppe, 2008. "International and domestic trading and wealth distribution," CoFE Discussion Papers 08/02, University of Konstanz, Center of Finance and Econometrics (CoFE).

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