Power-Law Distributions in Circulating Money: Effect of Preferential Behavior

Details Power-Law Distributions in Circulating Money: Effect of Preferential Behavior Power-Law Distributions in Circulating Money: Effect of Preferential Behavior

2005-07-20

arxiv.org/abs/physics/0507151v1

the International Journal of Modern Physics B, 18 (17-19), 2725(2004)

Physics

Physics and Society

4 pages, 2 figures

Scientific paper

10.1142/S0217979204025981

We introduce preferential behavior into the study on statistical mechanics of
money circulation. The computer simulation results show that the preferential
behavior can lead to power laws on distributions over both holding time and
amount of money held by agents. However, some constraints are needed in
generation mechanism to ensure the robustness of power-law distributions.

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