dorsal/arxiv
View SchemaRandom trading market: Drawbacks and a realistic modification
| Authors | Srutarshi Pradhan |
|---|---|
| Categories | |
| ArXiv ID | physics/0503105 |
| URL | https://arxiv.org/abs/physics/0503105 |
Abstract
We point out some major drawbacks in random trading market models and propose a realistic modification which overcomes such drawbacks through `sensible trading'. We apply such trading policy in different situations: a) Agents with zero saving factor b) with constant saving factor and c) with random saving factor --in all the cases the richer agents seem to follow power laws in terms of their wealth (money) distribution which support Pareto's observation.
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"abstract": "We point out some major drawbacks in random trading market models and propose\na realistic modification which overcomes such drawbacks through `sensible\ntrading\u0027. We apply such trading policy in different situations: a) Agents with\nzero saving factor b) with constant saving factor and c) with random saving\nfactor --in all the cases the richer agents seem to follow power laws in terms\nof their wealth (money) distribution which support Pareto\u0027s observation.",
"arxiv_id": "physics/0503105",
"authors": [
"Srutarshi Pradhan"
],
"categories": [
"physics.soc-ph"
],
"title": "Random trading market: Drawbacks and a realistic modification",
"url": "https://arxiv.org/abs/physics/0503105"
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