A P ] 2 1 D ec 2 00 4 On a kinetic model for a simple market economy

@inproceedings{Cordier2004AP,
  title={A P ] 2 1 D ec 2 00 4 On a kinetic model for a simple market economy},
  author={S. Cordier and Lorenzo Pareschi and Giuseppe Toscani},
  year={2004}
}
In this paper, we consider a simple kinetic model of economy involving both exchanges between agents and speculative trading. We show that the kinetic model admits non trivial quasi-stationary states with power law tails of Pareto type. In order to do this we consider a suitable asymptotic limit of the model yielding a Fokker-Planck equation for the distribution of wealth among individuals. For this equation the stationary state can be easily derived and shows a Pareto power law tail. Numerical… CONTINUE READING
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