Money exchange model and a general outlook

Abhijit Kar Gupta

Physica A: Statistical Mechanics and its Applications, 2006, vol. 359, issue C, 634-640

Abstract: The kinetic gas theory, like the two-agent money exchange model, recently introduced in the econophysics of wealth distributions, is revisited. The emergence of a Boltzmann–Gibbs-like distribution of money into Pareto's law in the tail of the distribution is examined in terms of a 2×2 transition matrix with a general and simplified outlook. Some additional interesting results are also reported.

Keywords: Wealth distribution; Econophysics; Kinetic theory; Transition matrix; Random trading (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:359:y:2006:i:c:p:634-640

DOI: 10.1016/j.physa.2005.04.038

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