Ideal-gas like market models with savings: quenched and annealed cases

Arnab Chatterjee and Bikas K Chakrabarti

Papers from arXiv.org

Abstract: We analyze the ideal gas like models of markets and review the different cases where a `savings' factor changes the nature and shape of the distribution of wealth. These models can produce similar distribution of wealth as observed across varied economies. We present a more realistic model where the saving factor can vary over time (annealed savings) and yet produces Pareto distribution of wealth in certain cases. We discuss the relevance of such models in the context of wealth distribution, and address some recent issues in the context of these models.

Date: 2006-07
References: Add references at CitEc
Citations:

Published in Physica A 382 (2007) 36-41

Downloads: (external link)
http://arxiv.org/pdf/physics/0607258 Latest version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:physics/0607258

Access Statistics for this paper

More papers in Papers from arXiv.org
Bibliographic data for series maintained by arXiv administrators ().