Volume 9, Issue 2 (9-2023)                   mmr 2023, 9(2): 1-14 | Back to browse issues page

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On the generalization of evolutionary continuous model in random markets
Elyas Shivanian 1, Mahdi Keshtkar2 , Hamid Reza Navidi3
1- Imam Khomeini International University , shivanian@sci.ikiu.ac.ir
2- Buein Zahra University
3- Shahed University
Abstract:   (622 Views)
A generalization of the continuous economic model is proposed for random markets. In this model, agents interact by pairs and exchange their money in a random way, in general, with possibly non- constant total amount of “money”. This model takes the form of an iterated nonlinear map of the distribution of wealth. We show the only way to reach equilibrium fixed point distribution is the agents to share their money without expansion or contraction factor. Furthermore, it is proved the higher momenta of the distribution exist and the iteration of higher momenta becomes stable under some specific conditions.
Keywords: equilibrium state, evolutionary model, nonlinear operator, Random markets
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Type of Study: Original Manuscript | Subject: Mat
Received: 2020/09/27 | Revised: 2024/02/6 | Accepted: 2021/05/1 | Published: 2023/12/3 | ePublished: 2023/12/3
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