Random Market Models with an H-Theorem
In this communication, some economic models given by functional mappings are addressed. These are models for random markets where agents trade by pairs and exchange their money in a random and conservative way. They display the exponential wealth distribution as asymptotic equilibrium, independently of the effectiveness of the transactions and of the limitation of the total wealth. The entropy increases with time in these models and the existence of an H-theorem is computationally checked. Also, it is shown that any small perturbation of the models equations make them to lose the exponential distribution as an equilibrium solution.
Year of publication: |
2013-07
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Authors: | Lopez-Ruiz, Ricardo ; Shivanian, Elyas ; Lopez, Jose-Luis |
Institutions: | arXiv.org |
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