Money exchange model and a general outlook

Money Exchange Model and a general outlook

The Kinetic Gas theory like two-agent money exchange model, recently introduced in the Econophysics of wealth distributions, is revisited. The emergence of BoltzmannGibbs like distribution of money to Pareto’s law in the tail of the distribution is examined in terms of 2 × 2 transition matrix with a general and simplified outlook. Some additional interesting results are also reported. Introduct...

Existence of an Equilibrium in a General Competitive Exchange Economy with Indivisible Goods and Money

We introduce a general competitive exchange economy with indivisible goods and money. There are finitely many agents and finitely many indivisible goods. Each agent is initially endowed with several units of each indivisible good and certain amount of money. Money is treated as a perfectly divisible good. The agents’ preferences depend on the bundle of indivisible goods and the quantity of mone...

A General Outlook at Islamic Rituals

Money in a Theory of Exchange

“In primitive traffic the economic man is awaking but very gradually to an understanding of the economic advantages to be gained by exploitation of existing opportunities of exchange...Consider how seldom it is the case, that a commodity owned by somebody is of less value in use than another commodity owned by someone else! And for the latter just the opposite relation is the case. But how much...

On Money as a Medium of Exchange

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