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Kinetic modeling of economic markets with various saving propensities

Lijie CuiChuandong Lin
Jul 2022
摘要
In this paper, two kinetic models are proposed for a closed economic marketof agents with homogeneous or inhomogeneous saving interests. For Model I, thetrading volume depends on the average saving propensities of an arbitrary pairof agents in trade. For Model II, the transaction is governed by a stochasticparameter between the saving propensities of two traders. Besides, two samplingmethods are introduced for the random selection of two agents in the iterativeprocess. Specifically, Technique I is sampling with replacement and is easierto program. Technique II is sampling without replacement and owns a highercomputing efficiency. There are slight differences between the stationarywealth distributions simulated by using the econophysics models andcomputational approaches. The accuracy and robustness of the models and methodsare validated by typical numerical tests. Moreover, the impact of savingpropensities of agents in two groups on the wealth distributions is studied,and the influence of proportions of agents is investigated as well. Toquantitatively measure the wealth inequality, the Gini coefficients, Kolkataindices, and deviation degrees of all agents and two groups are simulated andanalyzed in detail.
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