Pareto Law in a Kinetic Model of Market with Random Saving Propensity

Arnab Chatterjee, Bikas K. Chakrabarti and S. S. Manna

Papers from arXiv.org

Abstract: We have numerically simulated the ideal-gas models of trading markets, where each agent is identified with a gas molecule and each trading as an elastic or money-conserving two-body collision. Unlike in the ideal gas, we introduce (quenched) saving propensity of the agents, distributed widely between the agents ($0 \le \lambda

Date: 2003-01, Revised 2004-01
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Published in Physica A v.335 (2004) p.155-163

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