Statistical mechanics of money

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dc.creatorDragulescu, Adrian
dc.creatorYakovenko, Victor M.
dc.date2000-01-30
dc.date2000-08-04
dc.date.accessioned2026-07-07T12:46:18Z
dc.date.available2026-07-07T12:46:18Z
dc.descriptionIn a closed economic system, money is conserved. Thus, by analogy with energy, the equilibrium probability distribution of money must follow the exponential Gibbs law characterized by an effective temperature equal to the average amount of money per economic agent. We demonstrate how the Gibbs distribution emerges in computer simulations of economic models. Then we consider a thermal machine, in which the difference of temperatures allows one to extract a monetary profit. We also discuss the role of debt, and models with broken time-reversal symmetry for which the Gibbs law does not hold.
dc.description7 pages, 5 figures, RevTeX. V.4: final version accepted to Eur. Phys. J. B: few stylistic revisions and additional references
dc.identifierhttps://arxiv.org/abs/cond-mat/0001432
dc.identifierhttp://arxiv.org/abs/cond-mat/0001432
dc.identifierEur. Phys. J. B 17, 723 (2000)
dc.identifierdoi:10.1007/s100510070114
dc.identifier.urihttp://salesiana.dossiersoluciones.com/handle/123456789/221338
dc.subjectStatistical Mechanics
dc.subjectGeneral Finance
dc.titleStatistical mechanics of money
dc.typetext

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