2009/05/31 by Anindya S. Chakrabarti, Bikas K. Chakrabarti
Economics, Econometrics and Finance · Physics and Astronomy · #Advanced Thermodynamics and Statistical Mechanics #Complex Systems and Time Series Analysis #Econometrics #Economic theories and models #Economics #Ideal (ethics) #Ideal gas #Kinetic theory #Mathematical economics #Physics #Theoretical physics #Thermodynamics #physics.soc-ph
paper · pdf · doi:10.1016/j.physa.2009.06.038
15pp. Revised & a reference added. An appeal in Appendix-annex (section 8; not for publication) also added. Physica A (accepted for publication)
arxiv created 2009/06/22 · openalex publication_date 2009/06/25 · arxiv updated 2015/05/13 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/05
We develop a framework based on microeconomic theory from which the ideal gas like market models can be addressed. A kinetic exchange model based on that framework is proposed and its distributional features have been studied by considering its moments. Next, we derive the moments of the CC model (Eur. Phys. J. B 17 (2000) 167) as well. Some precise solutions are obtained which conform with the solutions obtained earlier. Finally, an output market is introduced with global price determination in the model with some necessary modifications.