Duality and stationary distributions of the ``immediate exchange model and its generalizations

DOI10.1007/S10955-016-1478-ZzbMATH Open1343.91029arXiv1508.04918OpenAlexW2208503280WikidataQ59437346 ScholiaQ59437346MaRDI QIDQ288200FDOQ288200

Authors: Bart van Ginkel, F. Redig, Federico Sau 

Publication date: 25 May 2016

Published in: Journal of Statistical Physics (Search for Journal in Brave)

Abstract: We prove that the "Immediate Exchange Model" of econophysics has a discrete dual, where the duality functions are those connecting the Brownian Energy Process and the Symmetric Inclusion Process. As a consequence, we recover invariance of products of Gamma distributions with shape parameter 2, and obtain ergodicity results. Next we show similar properties of a generalized model, where the exchange fraction is $Beta(s,t)$ distributed (instead of uniform), and product measures with $mboxGamma(s+t)$ marginals are invariant. We prove that the discrete dual has the self-duality property, and prove full SU(1,1) for both the continuous and discrete model.

Full work available at URL: https://arxiv.org/abs/1508.04918

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Mathematics Subject Classification ID

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

Cites Work

• Title not available (Why is that?)
• Duality and hidden symmetries in interacting particle systems
• Continuous time Markov processes. An introduction.
• Dualities in population genetics: a fresh look with new dualities
• Duality for stochastic models of transport
• Duality and stationary distributions of wealth distribution models
• Kinetic models of immediate exchange
• The immediate exchange model: an analytical investigation

Cited In (7)

• Totally asymmetric limit for models of heat conduction
• Heat conduction and the nonequilibrium stationary states of stochastic energy exchange processes
• Duality and stationary distributions of wealth distribution models
• Integrable heat conduction model
• The immediate exchange model: an analytical investigation
• Spectral gap of the symmetric inclusion process
• Generalized immediate exchange models and their symmetries

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