https://doi.org/10.1140/epjb/e2007-00122-7
Relaxation in statistical many-agent economy models
1
Institute of Theoretical Physics, Tartu University, Tähe 4, 51010 Tartu, Estonia
2
Department of Physics, Banaras Hindu University, Varanasi, 221005, India
3
Department of Chemistry, Philipps-University Marburg, 35032 Marburg, Germany
Corresponding authors: a marco.patriarca@mac.com - b achakraborti@yahoo.com - c ehe@ut.ee - d germano@staff.uni-marburg.de
Received:
31
August
2006
Revised:
12
December
2006
Published online:
11
May
2007
We review some statistical many-agent models of economic and social systems inspired by microscopic molecular models and discuss their stochastic interpretation. We apply these models to wealth exchange in economics and study how the relaxation process depends on the parameters of the system, in particular on the saving propensities that define and diversify the agent profiles.
PACS: 89.65.Gh – Economics; econophysics, financial markets, business and management / 87.23.Ge – Dynamics of social systems / 02.50.-r – Probability theory, stochastic processes, and statistics
© EDP Sciences, Società Italiana di Fisica, Springer-Verlag, 2007
