2003/11/01 by Ning Ding, Ning Xi, Y. Wang +1 · 19 citations
Economics, Econometrics and Finance · Mathematics · Physics and Astronomy · #Advanced Thermodynamics and Statistical Mechanics #Complex Systems and Time Series Analysis #Computer science #Distribution (mathematics) #Econometrics #Economic theories and models #Economics #Exponential distribution #Exponential function #Ideal (ethics) #Law #Mathematical analysis #Mathematical economics #Mathematics #Physics #Power (physics) #Power law #Set (abstract data type) #Statistics #Thermodynamics #cond-mat.stat-mech #physics.soc-ph #q-fin.GN
paper · pdf · doi:10.1140/epjb/e2003-00328-7
published in The European Physical Journal B 36(1), 149-153 (Springer Science+Business Media) · 9 pages, 6 figures
openalex publication_date 2003/11/01 · arxiv created 2005/07/20 · arxiv updated 2009/12/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/05
The effects of saving and spending patterns on holding time distribution of money are investigated based on the ideal gas-like models. We show the steady-state distribution obeys an exponential law when the saving factor is set uniformly, and a power law when the saving factor is set diversely. The power distribution can also be obtained by proposing a new model where the preferential spending behavior is considered. The association of the distribution with the probability of money to be exchanged has also been discussed.