On absence of steady state in the Bouchaud-M\'ezard network model

Zhiyuan Liu; R. A. Serota

doi:10.1016/j.physa.2017.09.076

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arXiv · 1704.02377

On absence of steady state in the Bouchaud-M\'ezard network model

Zhiyuan Liu·R. A. Serota

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Abstract

In the limit of infinite number of nodes (agents), the It\^o-reduced Bouchaud-M\'ezard network model of economic exchange has a time-independent mean and a steady-state inverse gamma distribution. We show that for a finite number of nodes the mean is actually distributed as a time-dependent lognormal and inverse gamma is quasi-stationary, with the time-dependent scale parameter.

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Zhiyuan Liu, R. A. Serota. 2017-04-07. On absence of steady state in the Bouchaud-M\'ezard network model. https://doi.org/10.1016/j.physa.2017.09.076

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