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On a kinetic model for a simple market economy

By CORDIER S, PARESCHI L. and TOSCANI G

Abstract

In this paper, we consider a simple kinetic model of economy involving both exchanges\ud between agents and speculative trading. We show that the kinetic model admits\ud non trivial quasi-stationary states with power law tails of Pareto type. In order to\ud do this we consider a suitable asymptotic limit of the model yielding a Fokker-Planck\ud equation for the distribution of wealth among individuals. For this equation the stationary\ud state can be easily derived and shows a Pareto power law tail. Numerical\ud results confirm the previous analysis

Year: 2005
OAI identifier: oai:iris.unife.it:11392/1207295
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