Title: Uni- vs. bi-directional kinetic exchange models
Authors: Els Heinsalu; Marco Patriarca
Addresses: Niels Bohr International Academy, Niels Bohr Institute, Blegdamsvej 17, DK-2100 Copenhagen, Denmark; National Institute of Chemical Physics and Biophysics, Rävala 10, Tallinn 15042, Estonia ' National Institute of Chemical Physics and Biophysics, Rävala 10, Tallinn 15042, Estonia
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.
Keywords: wealth distribution; market economies; non-market economies; kinetic wealth exchange models; Gibbs distribution; Gamma distribution; modelling; kinetic exchange models; Gink coefficients.
DOI: 10.1504/IJCEE.2015.070611
International Journal of Computational Economics and Econometrics, 2015 Vol.5 No.3, pp.213 - 219
Received: 09 Jan 2014
Accepted: 23 Apr 2014
Published online: 14 Jul 2015 *