Generalized immediate exchange models and their symmetries

DOI10.1016/J.SPA.2017.02.005MaRDI QIDQ2403705zbMATH OpenOpenAlexFDO

Authors F. Redig, Federico Sau

Publication date 11 September 2017

Published in Stochastic Processes and their Applications (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1606.08692

zbMATH Keywords

symmetriesthermalizationself-dualitysymmetric inclusion processimmediate exchange models

Mathematics Subject Classification ID

Applications of statistical and quantum mechanics to economics (econophysics) (91B80) Interacting particle systems in time-dependent statistical mechanics (82C22) Welfare economics (91B15) Heterogeneous agent models (91B69)

Abstract: We reconsider the immediate exchange model and define a more general class of models where mass is split, exchanged and merged. We relate the splitting process to the symmetric inclusion process via thermalization and from that obtain symmetries and self-duality of the generalized IEM model. We show that analogous properties hold for models were the splitting is related to the symmetric exclusion process or to independent random walkers.

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Cites work

• Correlation inequalities for interacting particle systems with duality
• Dualities in population genetics: a fresh look with new dualities
• Duality and hidden symmetries in interacting particle systems
• Duality and stationary distributions of the ``immediate exchange model and its generalizations
• Duality and stationary distributions of wealth distribution models
• Duality for stochastic models of transport
• Kinetic models of immediate exchange

Cited in

(7)

• Mixing of the averaging process and its discrete dual on finite-dimensional geometries
• Duality and stationary distributions of the ``immediate exchange model and its generalizations
• Quantitative Boltzmann-Gibbs principles via orthogonal polynomial duality
• Factorized duality, stationary product measures and generating functions
• Self-duality of Markov processes and intertwining functions
• On a class of solvable stationary non equilibrium states for mass exchange models
• Integrable heat conduction model

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