Power-Law Distributions in Circulating Money: Effect of Preferential Behavior

Ning Ding and Yougui Wang

Papers from arXiv.org

Abstract: We introduce preferential behavior into the study on statistical mechanics of money circulation. The computer simulation results show that the preferential behavior can lead to power laws on distributions over both holding time and amount of money held by agents. However, some constraints are needed in generation mechanism to ensure the robustness of power-law distributions.

Date: 2005-07
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Published in the International Journal of Modern Physics B, 18 (17-19), 2725(2004)

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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:physics/0507151

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