Economic Models with Chaotic Money Exchange

Carmen Pellicer-Lostao and Ricardo Lopez-Ruiz

Papers from arXiv.org

Abstract: This paper presents a novel study on gas-like models for economic systems. The interacting agents and the amount of exchanged money at each trade are selected with different levels of randomness, from a purely random way to a more chaotic one. Depending on the interaction rules, these statistical models can present different asymptotic distributions of money in a community of individuals with a closed economy.

Date: 2009-01
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:0901.1038

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