Colloquium: Statistical mechanics of money, wealth, and income

VM Yakovenko, JB Rosser Jr - Reviews of modern physics, 2009 - APS
This Colloquium reviews statistical models for money, wealth, and income distributions
developed in the econophysics literature since the late 1990s. By analogy with the …

Econophysics, statistical mechanics approach to

VM Yakovenko - arXiv preprint arXiv:0709.3662, 2007 - arxiv.org
This is a review article for Encyclopedia of Complexity and System Science, to be published
by Springer http://refworks. springer. com/complexity/. The paper reviews statistical models …

Physics-inspired analysis of the two-class income distribution in the USA in 1983–2018

D Ludwig, VM Yakovenko - Philosophical Transactions of …, 2022 - royalsocietypublishing.org
The first part of this paper is a brief survey of the approaches to economic inequality based
on ideas from statistical physics and kinetic theory. These include the Boltzmann kinetic …

A chaotic gas-like model for trading markets

C Pellicer-Lostao, R López-Ruiz - Journal of Computational Science, 2010 - Elsevier
This paper considers the ideal gas-like model for trading markets, where each individual
interacts with others trading in money-conservative collisions. Traditionally this model …

Statistical mechanics approach to the probability distribution of money

VM Yakovenko - New Approaches to Monetary Theory, 2012 - api.taylorfrancis.com
Although the subject of money clearly belongs in economics, economic theorists in general
cannot be accused of spending undue time and effort on understanding money. Obviously …

Exponential wealth distribution: a new approach from functional iteration theory

R López-Ruiz, JL López, X Calbet - ESAIM: Proceedings, 2012 - esaim-proc.org
Different approaches are possible in order to derive the exponential regime in statistical
systems. Here, a new functional equation is proposed in an economic context to explain the …

Transition from Pareto to Boltzmann–Gibbs behavior in a deterministic economic model

J Gonzalez-Estevez, MG Cosenza… - Physica A: Statistical …, 2009 - Elsevier
The one-dimensional deterministic economic model recently studied by González-Estévez
et al.[J. González-Estévez, MG Cosenza, R. López-Ruiz, JR Sanchez, Physica A 387 (2008) …

Equiprobability, entropy, Gamma distributions and other geometrical questions in multi-agent systems

R López-Ruiz, J Sanudo, X Calbet - Entropy, 2009 - mdpi.com
A set of many identical interacting agents obeying a global additive constraint is considered.
Under the hypothesis of equiprobability in the high-dimensional volume delimited in phase …

Directed random markets: connectivity determines money

I Martínez-Martínez, R López-Ruiz - International Journal of Modern …, 2013 - World Scientific
Boltzmann–Gibbs (BG) distribution arises as the statistical equilibrium probability distribution
of money among the agents of a closed economic system where random and undirected …

The Boltzmann factor: a simplified derivation

R Müller - European Journal of Physics, 2014 - iopscience.iop.org
We give a simple derivation of the Boltzmann factor from a microcanonical point of view. The
derivation is similar to Boltzmannʼs own approach but avoids the use of Lagrangian …