Uni- vs. bi-directional kinetic exchange models. (2015)

• Record Type: Journal Article
• Authors: Heinsalu, Els; Patriarca, Marco
• Is Part Of: International journal of computational economics and econometrics. Volume 5:Number 3(2015)
• Page Start: 213
• Page End: 219
• Publication Date: 2015
• Subjects: wealth distribution -- market economies -- non-market economies -- kinetic wealth exchange models -- Gibbs distribution -- Gamma distribution -- modelling -- kinetic exchange models -- Gink coefficients; Econometrics -- Periodicals; Economics -- Data processing -- Periodicals; 330.01519505
• Languages: English
• ISSNs: 1757-1170

Abstract

We discuss the relation between different formulations of kinetic exchange models in the light of their interpretation as models of non-market or market economies. This allows one to draw some quantitative conclusions about the corresponding differences between the respective wealth distributions, in particular the fact that models of market economies are characterised by more fair equilibrium wealth distributions - i.e., with smaller Gink coefficients.