Dynamics of money and income distributions

Przemysław Repetowicz, Stefan Hutzler and Peter Richmond

Physica A: Statistical Mechanics and its Applications, 2005, vol. 356, issue 2, 641-654

Abstract: We study the model of interacting agents proposed by Chakraborti and Chakrabarti [Eur. Phys. J. B 17 (2000) 167] that allows agents to both save and exchange wealth. Closed equations for the wealth distribution are developed using a mean field approximation.

Keywords: Elastic and inelastic scattering; Kinetic theory; Classical statistical mechanics; Probability theory; Stochastic processes and statistics; Dynamics of social systems; Environmental studies (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (23)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:356:y:2005:i:2:p:641-654

DOI: 10.1016/j.physa.2005.04.010

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