Abstract
We discuss the ideal gas like models of a trading market. The effect of savings on the distribution have been thoroughly reviewed. The market with fixed saving factors leads to a Gamma-like distribution. In a market with quenched random saving factors for its agents we show that the steady state income (m) distribution P(m) in the model has a power law tail with Pareto index v equal to unity. We also discuss the detailed numerical results on this model. We analyze the distribution of mutual money difference and also develop a master equation for the time development of P(m). Precise solutions are then obtained in some special cases.
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Chatterjee, A., Chakrabarti, B.K. (2005). Ideal-Gas Like Markets: Effect of Savings. In: Chatterjee, A., Yarlagadda, S., Chakrabarti, B.K. (eds) Econophysics of Wealth Distributions. New Economic Windows. Springer, Milano. https://doi.org/10.1007/88-470-0389-X_9
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DOI: https://doi.org/10.1007/88-470-0389-X_9
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