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Power-Law Distributions in Circulating Money: Effect of Preferential Behavior

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  • Ning Ding
  • Yougui Wang

Abstract

We introduce preferential behavior into the study on statistical mechanics of money circulation. The computer simulation results show that the preferential behavior can lead to power laws on distributions over both holding time and amount of money held by agents. However, some constraints are needed in generation mechanism to ensure the robustness of power-law distributions.

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  • Ning Ding & Yougui Wang, 2005. "Power-Law Distributions in Circulating Money: Effect of Preferential Behavior," Papers physics/0507151, arXiv.org.
    • Handle: RePEc:arx:papers:physics/0507151
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    File URL: http://arxiv.org/pdf/physics/0507151
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    Cited by:

    1. Huang, Jing & Wang, Yougui, 2014. "The time-dependent characteristics of relative mobility," Economic Modelling, Elsevier, vol. 37(C), pages 291-295.
    2. Yougui Wang & Ning Ding & Ning Xi, 2005. "Prospects for Money Transfer Models," Papers physics/0507161, arXiv.org.
    3. Sitabhra Sinha, 2005. "The Rich Are Different!: Pareto Law from asymmetric interactions in asset exchange models," Papers physics/0504197, arXiv.org.

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