Literature DB >> 15324126

Statistical model with a standard Gamma distribution.

Marco Patriarca1, Anirban Chakraborti, Kimmo Kaski.   

Abstract

We study a statistical model consisting of N basic units which interact with each other by exchanging a physical entity, according to a given microscopic random law, depending on a parameter lambda. We focus on the equilibrium or stationary distribution of the entity exchanged and verify through numerical fitting of the simulation data that the final form of the equilibrium distribution is that of a standard Gamma distribution. The model can be interpreted as a simple closed economy in which economic agents trade money and a saving criterion is fixed by the saving propensity lambda. Alternatively, from the nature of the equilibrium distribution, we show that the model can also be interpreted as a perfect gas at an effective temperature T(lambda), where particles exchange energy in a space with an effective dimension D(lambda).

Year:  2004        PMID: 15324126     DOI: 10.1103/PhysRevE.70.016104

Source DB:  PubMed          Journal:  Phys Rev E Stat Nonlin Soft Matter Phys        ISSN: 1539-3755


  2 in total

1.  Analysis of Solidarity Effect for Entropy, Pareto, and Gini Indices on Two-Class Society Using Kinetic Wealth Exchange Model.

Authors:  Gyuchang Lim; Seungsik Min
Journal:  Entropy (Basel)       Date:  2020-03-28       Impact factor: 2.524

2.  Effect of Savings on a Gas-Like Model Economy with Credit and Debt.

Authors:  Guillermo Chacón-Acosta; Vanessa Ángeles-Sánchez
Journal:  Entropy (Basel)       Date:  2021-02-05       Impact factor: 2.524

  2 in total

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