Relaxation in statistical many-agent economy models
Physics and Society
2013-03-19 v2 General Finance
Abstract
We review some statistical many-agent models of economic and social systems inspired by microscopic molecular models and discuss their stochastic interpretation. We apply these models to wealth exchange in economics and study how the relaxation process depends on the parameters of the system, in particular on the saving propensities that define and diversify the agent profiles.
Cite
@article{arxiv.physics/0608174,
title = {Relaxation in statistical many-agent economy models},
author = {Marco Patriarca and Anirban Chakraborti and Els Heinsalu and Guido Germano},
journal= {arXiv preprint arXiv:physics/0608174},
year = {2013}
}
Comments
Revised final version. 6 pages, 5 figures