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A Boltzmann-type model for market economy and its continuous trading limit

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  • In the frame of a kinetic Boltzmann-type approach to modeling market economies, a random conservative-in-the-mean scheme is proposed for binary transactions among agents. The scheme extends a very successful model recently introduced by Cordier, Pareschi and Toscani. Effects of the risky market on the overall output after the trade of each agent are accounted for by random variables affecting not only the wealth of that agent before the trade, but also the one of his partner. Variations induced by this generalization on steady distribution, existence of moments, and Pareto index are discussed. In particular, the continuous trading limit and the relevant limiting Fokker-Planck equation are commented on in detail.
    Mathematics Subject Classification: 82C40, 91B60, 35B40.


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