Analyzing money distributions in `ideal gas' models of markets
We analyze an ideal gas like models of a trading market. We propose a new fit for the money distribution in the fixed or uniform saving market. For the marketwith 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 $\nu$ exactly equal to unity, confirming the earlier numerical studies 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.
Year of publication: |
2005-05
|
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Authors: | Chatterjee, Arnab ; Chakrabarti, Bikas K. ; Stinchcombe, Robin B. |
Institutions: | arXiv.org |
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