Introducing Chaos in Economic Gas-like Models

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This paper considers ideal gas-like models of trading markets, where each agent is identified as a gas molecule that interacts with others trading in elastic or money-conservative collisions. Traditionally, these models introduce different rules of random selection and exchange between pair agents. Unlike these traditional models, this work introduces a chaotic procedure able of breaking the pairing symmetry of agents (i,j)->(j,i). Its results show that, the asymptotic money distributions of a market under chaotic evolution can exhibit a transition from Gibbs to Pareto distributions, as the pairing symmetry is progressively broken.
8 pages, 4 figures, 2 tables

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Trading and Market Microstructure, Statistical Mechanics, Chaotic Dynamics

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http://salesiana.dossiersoluciones.com/handle/123456789/225613

Consulte el texto completo en el siguiente enlace:

https://arxiv.org/abs/0904.0344
 http://arxiv.org/abs/0904.0344

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arXiv