Statistical equilibrium wealth distributions in an exchange economy with stochastic preferences.

DOI10.1006/jeth.2001.2897zbMath1033.91011OpenAlexW2003369335MaRDI QIDQ1867535

Jonathan Silver, Keiji Takamoto, Eric V. Slud

Publication date: 2 April 2003

Published in: Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL: https://semanticscholar.org/paper/cf2af9e1ee63472fe4a1c588444fcc8b952ded06

zbMATH Keywords

wealth distributionequilibriumMarkov modelgamma distributionstochastic preferencesexchange market.

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Special types of economic markets (including Cournot, Bertrand) (91B54)

Related Items

Kinetic models for goods exchange in a multi-agent market, Investigations to the price evolutions of goods exchange with CES utility functions, Evolution of wealth in a non-conservative economy driven by local Nash equilibria, Unhedgeable shocks and statistical economic equilibrium, The gamma beta ratio distribution, Kinetic models for the trading of goods, MAX-plus objects to study the complexity of graphs, A game theoretic model of wealth distribution, Erratum: Statistical equilibrium in simple exchange games. I, The Forbes 400, the Pareto power-law and efficient markets, Kinetic market models with single commodity having price fluctuations, Evolution of the distribution of wealth in an economic environment driven by local Nash equilibria

Cites Work

• Markov chains and stochastic stability
• A statistical equilibrium theory of markets
• Introduction to Econophysics
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