Year: 2018
Type: preprint
Abstract: We study a stochastic $N$-particle system representing economic agents in a population randomly exchanging their money, which is associated to a class of one-dimensional kinetic equations modelling the evolution of the distribution of wealth in a simple market economy, introduced by Matthes and Toscani \cite{matthes-toscani2008}. We show that, unless the economic exchanges satisfy some exact conservation condition, the $p$-moments of the particles diverge with time for all $p>1$, and converge to 0 for $0
Source: arXiv (Cornell University)
Author: Cortez, Roberto
Institution: University of Valparaíso
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2891769835