Inelastically scattering particles and wealth distribution in an open economy

Details Inelastically scattering particles and wealth distribution in an open economy Inelastically scattering particles and wealth distribution in an open economy

2003-11-11

arxiv.org/abs/cond-mat/0311235v2

Phys. Rev. E 69, 046102 (2004)

Physics

Condensed Matter

Statistical Mechanics

8 pages 5 figures

Scientific paper

10.1103/PhysRevE.69.046102

Using the analogy with inelastic granular gasses we introduce a model for wealth exchange in society. The dynamics is governed by a kinetic equation, which allows for self-similar solutions. The scaling function has a power-law tail, the exponent being given by a transcendental equation. In the limit of continuous trading, closed form of the wealth distribution is calculated analytically.

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