dorsal/arxiv
View SchemaIdeal-Gas Like Markets: Effect of Savings
| Authors | Arnab Chatterjee, Bikas K Chakrabarti |
|---|---|
| Categories | |
| ArXiv ID | physics/0507136 |
| URL | https://arxiv.org/abs/physics/0507136 |
Abstract
We discuss the ideal gas like models of a trading market. The effect of savings on the distribution have been thoroughly reviewed. The market with fixed saving factors leads to a Gamma-like distribution. In a market with quenched random saving factors for its agents we show that the steady state income ($m$) distribution $P(m)$ in the model has a power law tail with Pareto index $\nu$ equal to unity. We also discuss the detailed numerical results on this model. We analyze the distribution of mutual money difference and also develop a master equation for the time development of $P(m)$. Precise solutions are then obtained in some special cases.
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"abstract": "We discuss the ideal gas like models of a trading market. The effect of\nsavings on the distribution have been thoroughly reviewed. The market with\nfixed saving factors leads to a Gamma-like distribution. In a market with\nquenched random saving factors for its agents we show that the steady state\nincome ($m$) distribution $P(m)$ in the model has a power law tail with Pareto\nindex $\\nu$ equal to unity. We also discuss the detailed numerical results on\nthis model. We analyze the distribution of mutual money difference and also\ndevelop a master equation for the time development of $P(m)$. Precise solutions\nare then obtained in some special cases.",
"arxiv_id": "physics/0507136",
"authors": [
"Arnab Chatterjee",
"Bikas K Chakrabarti"
],
"categories": [
"physics.soc-ph",
"cond-mat.stat-mech",
"q-fin.GN"
],
"title": "Ideal-Gas Like Markets: Effect of Savings",
"url": "https://arxiv.org/abs/physics/0507136"
},
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