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arXiv · 1306.2060

What's in YOUR wallet?

Lara Pudwell·Eric Rowland
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Abstract

We use Markov chains and numerical linear algebra -- and several CPU hours -- to determine the expected number of coins in a person's possession under certain conditions. We identify the spending strategy that results in the minimum possible expected number of coins, and we consider two other strategies that are more realistic.

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Lara Pudwell, Eric Rowland. 2013-06-09. What's in YOUR wallet?. https://doi.org/10.1007/s00283-015-9570-9

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