Random trading market: Drawbacks and a realistic modification

Details Random trading market: Drawbacks and a realistic modification Random trading market: Drawbacks and a realistic modification

2005-03-14

arxiv.org/abs/physics/0503105v1

Physics

Physics and Society

8 pages, 3 figures

Scientific paper

We point out some major drawbacks in random trading market models and propose a realistic modification which overcomes such drawbacks through `sensible trading'. We apply such trading policy in different situations: a) Agents with zero saving factor b) with constant saving factor and c) with random saving factor --in all the cases the richer agents seem to follow power laws in terms of their wealth (money) distribution which support Pareto's observation.

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