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Generalized immediate exchange models and their symmetries

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  • Redig, Frank
  • Sau, Federico

Abstract

We reconsider the discrete dual of the immediate exchange model and define a more general class of models where mass is split, exchanged and merged. We relate the splitting process to the symmetric inclusion process via thermalization and from that obtain symmetries and self-duality for it and its generalization. We show that analogous properties hold for models where the splitting is related to the symmetric exclusion process or to independent random walkers.

Suggested Citation

  • Redig, Frank & Sau, Federico, 2017. "Generalized immediate exchange models and their symmetries," Stochastic Processes and their Applications, Elsevier, vol. 127(10), pages 3251-3267.
    • Handle: RePEc:eee:spapps:v:127:y:2017:i:10:p:3251-3267
    DOI: 10.1016/j.spa.2017.02.005
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    References listed on IDEAS

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    1. Guy Katriel, 2014. "The Immediate Exchange model: an analytical investigation," Papers 1409.6646, arXiv.org.
    2. Chakrabarti,Bikas K. & Chakraborti,Anirban & Chakravarty,Satya R. & Chatterjee,Arnab, 2013. "Econophysics of Income and Wealth Distributions," Cambridge Books, Cambridge University Press, number 9781107013445.
    3. Els Heinsalu & Marco Patriarca, 2014. "Kinetic models of immediate exchange," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 87(8), pages 1-10, August.
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