In this paper the dependence of wealth distribution and the velocity of money on the required reserve ratio is examined based on a random transfer model of money and computer simulations. A fractional reserve banking system is introduced to the model where money creation can be achieved by bank...

In this paper, we investigate the economic mobility in four money transfer models which have been applied into the research on wealth distribution. We demonstrate the mobility by recording the time series of agents’ ranks and observing their volatility. We also compare the mobility...

The global economy is a complex dynamical system, whose cyclical fluctuations can mainly be characterized by simultaneous recessions or expansions of major economies. Thus, the researches on the synchronization phenomenon are key to understanding and controlling the dynamics of the global...

We have studied the statistical mechanics of money circulation in a closed economic system. An explicit statistical formulation of the circulation velocity of money is presented for the first time by introducing the concept of holding time of money. The result indicates that the velocity is...

In social sciences, there is currently rare consensus on the underlying mechanism for cultural evolution, partially due to lack of suitable data. The evolution of first names of newborn babies offers a remarkable example for such researches. In this paper, we employ the historical data on baby...

Recently, supply networks have attracted increasing attention from the scientific community. However, it lacks serious consideration of social preference in Supply Chain Management. In this paper, we develop an evolutionary decision-making model to characterize the effects of suppliers’...

The distribution of Chinese family names is investigated based on data of the fifth national census of China in 2000, including 7329 Chinese family names and 1.28 billion people. The cumulative distribution function (CDF) of family name in multiple scales is presented and the correlation between...

Individual donation depends on personal wealth and individual willingness to donate. On the basis of a donation model proposed in our previous study, a simplified version of an individual donation model is derived by relaxing the restrictions of the maximum wealth in the economy. Thus, the whole...

By analyzing the data of top 500 Chinese firms from the year 2002 to 2007, we reveal that their revenues and ranks obey the Zipf’s law with exponent of 1 for each year. This result confirms the universality of firm size character which has been presented in many other empirical works, since...

In this paper, we propose an agent-based model to study the impact of asymmetric information on market evolution. In each period, buyers and sellers are randomly matched. The condition for the transaction being performed depends on the comparison between valuations of buyers and sellers on the...