Issue Eur. Phys. J. B Volume 57, Number 2, May II 2007 Physics in Society Page(s) 219 - 224 DOI 10.1140/epjb/e2007-00122-7 Published online 11 May 2007

Eur. Phys. J. B 57, 219-224 (2007)
DOI: 10.1140/epjb/e2007-00122-7

Relaxation in statistical many-agent economy models

M. Patriarca¹, A. Chakraborti², E. Heinsalu¹ and G. Germano<sup>3

1</sup>  Institute of Theoretical Physics, Tartu University, Tähe 4, 51010 Tartu, Estonia
²  Department of Physics, Banaras Hindu University, Varanasi-221005, India
³  Department of Chemistry, Philipps-University Marburg, 35032 Marburg, Germany

marco.patriarca@mac.com
achakraborti@yahoo.com
ehe@ut.ee
germano@staff.uni-marburg.de

(Received 31 August 2006 / Received in final form 12 December 2006 / Published online 11 May 2007)

Abstract
We review some statistical many-agent models of economic and social systems inspired by microscopic molecular models and discuss their stochastic interpretation. We apply these models to wealth exchange in economics and study how the relaxation process depends on the parameters of the system, in particular on the saving propensities that define and diversify the agent profiles.

PACS
89.65.Gh - Economics; econophysics, financial markets, business and management.
87.23.Ge - Dynamics of social systems.
02.50.-r - Probability theory, stochastic processes, and statistics.

© EDP Sciences, Società Italiana di Fisica, Springer-Verlag 2007

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