dorsal/arxiv
View SchemaIdeal-gas like market models with savings: quenched and annealed cases
| Authors | Arnab Chatterjee, Bikas K Chakrabarti |
|---|---|
| Categories | |
| ArXiv ID | physics/0607258 |
| URL | https://arxiv.org/abs/physics/0607258 |
| DOI | 10.1016/j.physa.2007.02.006 |
| Journal | Physica A 382 (2007) 36-41 |
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.
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"abstract": "We analyze the ideal gas like models of markets and review the different\ncases where a `savings\u0027 factor changes the nature and shape of the distribution\nof wealth. These models can produce similar distribution of wealth as observed\nacross varied economies. We present a more realistic model where the saving\nfactor can vary over time (annealed savings) and yet produces Pareto\ndistribution of wealth in certain cases. We discuss the relevance of such\nmodels in the context of wealth distribution, and address some recent issues in\nthe context of these models.",
"arxiv_id": "physics/0607258",
"authors": [
"Arnab Chatterjee",
"Bikas K Chakrabarti"
],
"categories": [
"physics.soc-ph",
"cond-mat.stat-mech",
"q-fin.GN"
],
"doi": "10.1016/j.physa.2007.02.006",
"journal_ref": "Physica A 382 (2007) 36-41",
"title": "Ideal-gas like market models with savings: quenched and annealed cases",
"url": "https://arxiv.org/abs/physics/0607258"
},
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