Effects of saving and spending patterns on holding time distribution
Department of Systems Science, School of Management,
Beijing Normal University, Beijing, 100875, P.R. China
Corresponding author: a email@example.com
Published online: 19 November 2003
The effects of saving and spending patterns on holding time distribution of money are investigated based on the ideal gas-like models. We show the steady-state distribution obeys an exponential law when the saving factor is set uniformly, and a power law when the saving factor is set diversely. The power distribution can also be obtained by proposing a new model where the preferential spending behavior is considered. The association of the distribution with the probability of money to be exchanged has also been discussed.
PACS: 89.65.Gh – Economics; econophysics, financial markets, business and management / 87.23.Ge – Dynamics of social systems / 05.10.-a – Computational methods in statistical physics and nonlinear dynamics / 02.50.-r – Probability theory, stochastic processes, and statistics
© EDP Sciences, Società Italiana di Fisica, Springer-Verlag, 2003