A Generalized Continuous Model for Random Markets
General Finance
2011-05-11 v3 Multiagent Systems
Adaptation and Self-Organizing Systems
Abstract
A generalized continuous economic model is proposed for random markets. In this model, agents interact by pairs and exchange their money in a random way. A parameter controls the effectiveness of the transactions between the agents. We show in a rigorous way that this type of markets reach their asymptotic equilibrium on the exponential wealth distribution.
Keywords
Cite
@article{arxiv.1104.2187,
title = {A Generalized Continuous Model for Random Markets},
author = {R. Lopez-Ruiz and E. Shivanian and S. Abbasbandy and J. L. Lopez},
journal= {arXiv preprint arXiv:1104.2187},
year = {2011}
}
Comments
11 pages, 4 figures