Introducing Chaos in Economic Gas-like Models

Details Introducing Chaos in Economic Gas-like Models Introducing Chaos in Economic Gas-like Models

2009-04-02

arxiv.org/abs/0904.0344v1

Economy

Quantitative Finance

Trading and Market Microstructure

8 pages, 4 figures, 2 tables

Scientific paper

This paper considers ideal gas-like models of trading markets, where each agent is identified as a gas molecule that interacts with others trading in elastic or money-conservative collisions. Traditionally, these models introduce different rules of random selection and exchange between pair agents. Unlike these traditional models, this work introduces a chaotic procedure able of breaking the pairing symmetry of agents (i,j)->(j,i). Its results show that, the asymptotic money distributions of a market under chaotic evolution can exhibit a transition from Gibbs to Pareto distributions, as the pairing symmetry is progressively broken.

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