On absence of steady state in the Bouchaud-M\'ezard network model

Zhiyuan Liu and R. A. Serota

Papers from arXiv.org

Abstract: In the limit of infinite number of nodes (agents), the It\^o-reduced Bouchaud-M\'ezard network model of economic exchange has a time-independent mean and a steady-state inverse gamma distribution. We show that for a finite number of nodes the mean is actually distributed as a time-dependent lognormal and inverse gamma is quasi-stationary, with the time-dependent scale parameter.

Date: 2017-04
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Published in Physica A: Statistical Mechanics and its Applications, Volume 491, 1 February 2018, Pages 391-398

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