Showing 1 - 4 of 4
This article and the companion paper aim at reviewing recent empirical and theoretical developments usually grouped under the term Econophysics. Since the name was coined in 1995 by merging the words 'Economics' and 'Physics', this new interdisciplinary field has grown in various directions:...
Persistent link: https://www.econbiz.de/10009208270
This article is the second part of a review of recent empirical and theoretical developments usually grouped under the heading Econophysics. In the first part, we reviewed the statistical properties of financial time series, the statistics exhibited in order books and discussed some studies of...
Persistent link: https://www.econbiz.de/10009208355
We review a simple model of closed economy, where the economic agents make money transactions and a saving criterion is present. We observe the Gibbs distribution for zero saving propensity, and non-Gibbs distributions otherwise. While the exact solution in the case of zero saving propensity is...
Persistent link: https://www.econbiz.de/10010589648
Some general features of statistical multi-agent economic models are reviewed, with particular attention to the dependence of the equilibrium wealth distribution on the agents’ saving propensities. It is shown that in a finite system of agents with a continuous saving propensity distribution a...
Persistent link: https://www.econbiz.de/10011060632