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Gaussian Noise Effects on the Evolution of Wealth in a Closed System of n-Economies

Listed author(s):
  • J. M. Pellon-Diaz
  • A. Aragones-Munoz
  • A. Sandoval-Villalbazo
  • A. Diaz-Reynoso
Registered author(s):

    Based on the stochastic model proposed by Patriarca-Kaski-Chakraborti that describes the exchange of wealth between $n$ economic agents, we analyze the evolution of the corresponding economies under the assumption of a Gaussian background, modeling the exchange parameter $\epsilon$. We demonstrate, that within Gaussian noise, the variance of the resulting wealth distribution will significantly decrease, and the equilibrium state is reached faster than in the case of a uniform distributed $\epsilon$ parameter. Also, we show that the system with Gaussian noise strongly resembles a deterministic system which is solved by means of a Z-Transform based technique.

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    Paper provided by in its series Papers with number 1102.1713.

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    Date of creation: Feb 2011
    Date of revision: Feb 2011
    Handle: RePEc:arx:papers:1102.1713
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