Economic Models with Chaotic Money Exchange

DOI10.1007/978-3-642-01970-8_5MaRDI QIDQ3629534zbMATH OpenOpenAlexFDO

Authors Carmen Pellicer-Lostao, Ricardo López-Ruiz

Publication date 28 May 2009

Published in Lecture Notes in Computer Science (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/0901.1038

zbMATH Keywords

complex systemseconophysicsgas-like modelsmodeling and simulationmoney dynamicsrandom and chaotic numbers

Mathematics Subject Classification ID

Economic dynamics (91B55) Applications of statistical and quantum mechanics to economics (econophysics) (91B80)

Abstract: This paper presents a novel study on gas-like models for economic systems. The interacting agents and the amount of exchanged money at each trade are selected with different levels of randomness, from a purely random way to a more chaotic one. Depending on the interaction rules, these statistical models can present different asymptotic distributions of money in a community of individuals with a closed economy.

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Cites work

• Cryptographic pseudo-random sequences from the chaotic Hénon map
• Information Theory and Statistical Mechanics
• Introduction to Econophysics
• Pseudo-Random Bit Generation Based on 2D Chaotic Maps of Logistic Type and Its Applications in Chaotic Cryptography

Cited in

(1)

• Strange attractors in a chaotic coin flip simulation

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