A Generalized Continuous Model for Random Markets

R. Lopez-Ruiz, E. Shivanian, S. Abbasbandy and J. L. Lopez

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Abstract: A generalized continuous economic model is proposed for random markets. In this model, agents interact by pairs and exchange their money in a random way. A parameter controls the effectiveness of the transactions between the agents. We show in a rigorous way that this type of markets reach their asymptotic equilibrium on the exponential wealth distribution.

Date: 2011-04, Revised 2011-05
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:1104.2187

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