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Numerical Simulation of Entropy Growth for a Nonlinear Evolutionary Model of Random Markets

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  • Mahdi Keshtkar
  • Hamidreza Navidi
  • Elyas Shivanian

Abstract

In this communication, the generalized continuous economic model for random markets is revisited. In this model for random markets, agents trade by pairs and exchange their money in a random and conservative way. They display the exponential wealth distribution as asymptotic equilibrium, independently of the effectiveness of the transactions and of the limitation of the total wealth. In the current work, entropy of mentioned model is defined and then some theorems on entropy growth of this evolutionary problem are given. Furthermore, the entropy increasing by simulation on some numerical examples is verified.

Suggested Citation

  • Mahdi Keshtkar & Hamidreza Navidi & Elyas Shivanian, 2016. "Numerical Simulation of Entropy Growth for a Nonlinear Evolutionary Model of Random Markets," Advances in Mathematical Physics, Hindawi, vol. 2016, pages 1-3, October.
    • Handle: RePEc:hin:jnlamp:2726394
    DOI: 10.1155/2016/2726394
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