Inelastically scattering particles and wealth distribution in an open economy

Frantisek Slanina

Papers from arXiv.org

Abstract: Using the analogy with inelastic granular gasses we introduce a model for wealth exchange in society. The dynamics is governed by a kinetic equation, which allows for self-similar solutions. The scaling function has a power-law tail, the exponent being given by a transcendental equation. In the limit of continuous trading, closed form of the wealth distribution is calculated analytically.

Date: 2003-11, Revised 2003-12
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Published in Phys. Rev. E 69, 046102 (2004)

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