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Directed Random Market: the equilibrium distribution

We find the explicit expression for the equilibrium wealth distribution of the Directed Random Market process, recently introduced by Mart\'inez-Mart\'inez and L\'opez-Ruiz, which turns out to be a Gamma distribution with shape parameter $\frac{1}{2}$. We also prove the convergence of the discrete-time process describing the evolution of the distribution of wealth to the equilibrium distribution.
Year of publication:
2014-04
Authors: Katriel, Guy
Institutions: arXiv.org
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Source:
Persistent link: https://www.econbiz.de/10010760439
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