The Question of Relaxation in the Wealth Exchange Models
We look at the meaning of 'relaxation' in the wealth exchange models that are recently proposed in Econophysics to interpret the wealth distributions. To quantify and characterise the process of relaxation, we define an appropriate quantity and evaluate that numerically for the systems of many agents. Also, the numerical results have been supported heuristically by constructing a simple differential equation.
q-fin.GN↗