Statistical equilibrium in simple exchange games I

Details Statistical equilibrium in simple exchange games I Statistical equilibrium in simple exchange games I

2006-08-22

arxiv.org/abs/physics/0608215v1

Physics

Physics and Society

11 pages, 3 figures, submitted to EPJB

Scientific paper

10.1140/epjb/e2007-00345-6

Simple stochastic exchange games are based on random allocation of finite resources. These games are Markov chains that can be studied either analytically or by Monte Carlo simulations. In particular, the equilibrium distribution can be derived either by direct diagonalization of the transition matrix, or using the detailed balance equation, or by Monte Carlo estimates. In this paper, these methods are introduced and applied to the Bennati-Dragulescu-Yakovenko (BDY) game. The exact analysis shows that the statistical-mechanical analogies used in the previous literature have to be revised.

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