In numerically implementing the optimization of an expected value in many economic models, it is often necessary to approximate a given continuous probability distribution by a discrete distribution. We propose an approximation method based on the principle of maximum entropy and minimum...

"The distribution of wealth and income is never uniform, and philosophers and economists have tried for years to understand the reasons and formulate remedies for such inequalities. This book introduces the elegant and intriguing kinetic exchange models that physicists have developed to tackle...