Relaxation in statistical many-agent economy models

Details Relaxation in statistical many-agent economy models Relaxation in statistical many-agent economy models

2006-08-17

arxiv.org/abs/physics/0608174v2

Eur. Phys. J. B 57, 219-224 (2007)

Physics

Physics and Society

Revised final version. 6 pages, 5 figures

Scientific paper

10.1140/epjb/e2007-00122-7

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.

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