Relaxation in the wealth exchange models

We examine the concept of relaxation in the wealth exchange models that are recently proposed in econophysics to interpret wealth distributions. To quantify and characterize the process of relaxation, we define an appropriate quantity and evaluate that numerically for the systems of many agents. Also, heuristic arguments are provided in support of some numerical results.

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Year of publication:	2008
Authors:	Kar Gupta, Abhijit
Published in:	Physica A: Statistical Mechanics and its Applications. - Elsevier, ISSN 0378-4371. - Vol. 387.2008, 27, p. 6819-6824
Publisher:	Elsevier
Subject:	Wealth distribution \| Exponential relaxation \| Many agent model \| Wealth exchange \| Random saving \| Pareto’s law

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010590574