Statistical mechanics of money

Behavioral and Network Origins of Wealth Inequality: Insights from a Virtual World

Fuchs, B., & Stefan Thurner, A. (2014) · PLoS ONE · doi:10.1371/journal.pone.0103503 · Cited by 32

The Interstellar Ribbon: A Unifying Explanation

Schwadron, N. A., & McComas, D. J. (2019) · The Astrophysical Journal · doi:10.3847/1538-4357/ab5b91 · Cited by 32

Ideal Gas-Like Distributions in Economics: Effects of Saving Propensity

Chakrabarti, B. K., & Chatterjee, A. (2004) · Springer eBooks · doi:10.1007/978-4-431-53947-6_40 · Cited by 32

Entropy and equilibrium state of free market models

Iglesias, J. R., & de Almeida, R. M. C. (2012) · The European Physical Journal B · doi:10.1140/epjb/e2012-21036-1 · Cited by 31

An analytic treatment of the Gibbs–Pareto behavior in wealth distribution

Das, A., & Yarlagadda, S. (2005) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2005.02.018 · Cited by 31

Statistical mechanics of economics I

Kusmartsev, F. V. (2011) · Physics Letters A · doi:10.1016/j.physleta.2011.01.003 · Cited by 30

Econophysics: Bridges over a turbulent current

Chen, S., & Li, S.-P. (2011) · International Review of Financial Analysis · doi:10.1016/j.irfa.2011.07.001 · Cited by 30

Statistical Theories of Income and Wealth Distribution

Chakrabarti, A. S., & Chakrabarti, B. K. (2010) · Economics · doi:10.5018/economics-ejournal.ja.2010-4 · Cited by 30

A Boltzmann-Type Approach to the Formation of Wealth Distribution CurvesPreprint

Düring, B., Matthes, D., & Toscani, G. (2008) · SSRN Electronic Journal · doi:10.2139/ssrn.1281404 · Cited by 30

Twenty-five years of random asset exchange modeling

Greenberg, M., & Gao, H. O. (2024) · The European Physical Journal B · doi:10.1140/epjb/s10051-024-00695-3 · Cited by 29

Entropic basis of the Pareto law

Rawlings, P. K., Reguera, D., & Reiss, H. (2004) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2004.06.152 · Cited by 29

A common mode of origin of power laws in models of market and earthquake

Bhattacharyya, P., Chatterjee, A., & Chakrabarti, B. K. (2007) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2007.02.096 · Cited by 29

Inequality Measures in Kinetic Exchange Models of Wealth Distributions

Ghosh, A., Chatterjee, A., Inoue, J.-I., & Chakrabarti, B. K. (2016) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2016.01.081 · Cited by 29

The circulation of money and holding time distribution

Wang, Y., Ding, N., & Zhang, L. (2003) · Physica A Statistical Mechanics and its Applications · doi:10.1016/s0378-4371(03)00074-8 · Cited by 29

Right Tail of the Distribution of Depressive Symptoms Is Stable and Follows an Exponential Curve during Middle Adulthood

Tomitaka, S., Kawasaki, Y., & Furukawa, T. A. (2015) · PLoS ONE · doi:10.1371/journal.pone.0114624 · Cited by 28

Micro to macro models for income distribution in the absence and in the presence of tax evasion

Bertotti, M. L., & Modanese, G. (2014) · Applied Mathematics and Computation · doi:10.1016/j.amc.2014.07.055 · Cited by 28

Power-Law Tail in the Chinese Wealth Distribution

Ding, N., & Wang, Y. (2007) · Chinese Physics Letters · doi:10.1088/0256-307x/24/8/076 · Cited by 28

Boltzmann distribution and market temperature

Kleinert, H. M., & Chen, X. (2007) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2007.04.101 · Cited by 28

Kinetic Modeling of Alcohol Consumption

Dimarco, G., & Toscani, G. (2019) · Journal of Statistical Physics · doi:10.1007/s10955-019-02406-0 · Cited by 27

Mean-field theory of social laser

Alodjants, A. P., Bazhenov, A. Y., Khrennikov, A. Y., & Bukhanovsky, A. V. (2022) · Scientific Reports · doi:10.1038/s41598-022-12327-w · Cited by 27

Ideal-gas-like market models with savings: Quenched and annealed cases

Chatterjee, A., & Chakrabarti, B. K. (2007) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2007.02.006 · Cited by 27

Probability distributions in conservative energy exchange models of multiple interacting agents

Scafetta, N., & West, B. J. (2007) · Journal of Physics Condensed Matter · doi:10.1088/0953-8984/19/6/065138 · Cited by 26

Kinetic models for wealth exchange on directed networks

Chatterjee, A. (2009) · The European Physical Journal B · doi:10.1140/epjb/e2009-00044-4 · Cited by 26

Rigorous Proof of the Boltzmann–Gibbs Distribution of Money on Connected Graphs

Lanchier, N. (2017) · Journal of Statistical Physics · doi:10.1007/s10955-017-1744-8 · Cited by 26

Models on the move: Migration and imperialism

Bradley, S., & Thébault, K. P. Y. (2017) · Studies in History and Philosophy of Science Part A · doi:10.1016/j.shpsa.2017.11.008 · Cited by 25

Econophys-Kolkata: A Short Story

Chakrabarti, B. K. (2005) · New economic windows · doi:10.1007/88-470-0389-x_26 · Cited by 25

Revisiting the thermal and superthermal two-class distribution of incomes

Schneider, M. (2015) · The European Physical Journal B · doi:10.1140/epjb/e2014-50501-x · Cited by 24

Describing social systems using social free energy and social entropy

Stepanić, J., Sabol, G., & Žebec, M. S. (2005) · Kybernetes · doi:10.1108/03684920510595535 · Cited by 24

Income Distribution Dynamics of Economic Systems

Ribeiro, M. B. (2020) · Cambridge University Press eBooks · doi:10.1017/9781316136119 · Cited by 24

Growth and dynamics of Econophysics: a bibliometric and network analysis

Sharma, K., & Khurana, P. (2021) · Scientometrics · doi:10.1007/s11192-021-03884-4 · Cited by 24

A chaotic gas-like model for trading markets

Pellicer-Lostao, C., & López‐Ruiz, R. (2010) · Journal of Computational Science · doi:10.1016/j.jocs.2010.03.005 · Cited by 24

Rigorous Results for the Distribution of Money on Connected Graphs

Lanchier, N., & Reed, S. (2018) · Journal of Statistical Physics · doi:10.1007/s10955-018-2024-y · Cited by 24

Pareto tails in socio-economic phenomena: a kinetic description

Gualandi, S., & Toscani, G. (2018) · Economics · doi:10.5018/economics-ejournal.ja.2018-31 · Cited by 24

STATISTICAL EQUILIBRIUM METHODS IN ANALYTICAL POLITICAL ECONOMY

Scharfenaker, E. (2020) · Journal of Economic Surveys · doi:10.1111/joes.12403 · Cited by 24

A Maximum Entropy Model of Bounded Rational Decision-Making with Prior Beliefs and Market Feedback

Evans, B. P., & Prokopenko, M. (2021) · Entropy · doi:10.3390/e23060669 · Cited by 24

Distributions of city sizes in Mexico during the 20th century

Campuzano, E. P., Guzmán-Vargas, L., & Angulo-Brown, F. (2015) · Chaos Solitons & Fractals · doi:10.1016/j.chaos.2014.12.015 · Cited by 24

Economic inequality and mobility in kinetic models for social sciences

Bertotti, M. L., & Modanese, G. (2016) · The European Physical Journal Special Topics · doi:10.1140/epjst/e2015-50117-8 · Cited by 24

An statistical analysis of stratification and inequity in the income distribution

Ferrero, J. C. (2011) · The European Physical Journal B · doi:10.1140/epjb/e2011-11018-2 · Cited by 23

Zipf's law in city size from a resource utilization model

Ghosh, A., Chatterjee, A., Chakrabarti, A. S., & Chakrabarti, B. K. (2014) · Physical Review E · doi:10.1103/physreve.90.042815 · Cited by 23

Transfer potentials shape and equilibrate monetary systems

Fischer, R., & Braun, D. (2003) · Physica A Statistical Mechanics and its Applications · doi:10.1016/s0378-4371(02)01746-6 · Cited by 23

A distribution model of the responses to each depressive symptom item in a general population: a cross-sectional study

Tomitaka, S., Kawasaki, Y., & Furukawa, T. A. (2015) · BMJ Open · doi:10.1136/bmjopen-2015-008599 · Cited by 22

An MCDA composite index of bank stability using CAMELS ratios and shannon entropy

Boubaker, S., Ngo, T., Samitas, A., & Tripe, D. (2024) · Annals of Operations Research · doi:10.1007/s10479-024-06023-3 · Cited by 22

Pareto and Boltzmann–Gibbs behaviors in a deterministic multi-agent system

González-Estévez, J., Cosenza, M. G., López‐Ruiz, R., & SANCHEZ, J. R. (2008) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2008.03.013 · Cited by 22

Size distribution of cities: A kinetic explanation

Gualandi, S., & Toscani, G. (2019) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2019.04.260 · Cited by 22

Understanding Changes in the Topology and Geometry of Financial Market Correlations during a Market Crash

Yen, P. T.-W., Xia, K., & Cheong, S. A. (2021) · Entropy · doi:10.3390/e23091211 · Cited by 22

The Monomodal, Polymodal, Equilibrium and Nonequilibrium Distribution of Money

Ferrero, J. C. (2005) · New economic windows · doi:10.1007/88-470-0389-x_16 · Cited by 22

Weighted trade network in a model of preferential bipartite transactions

Chakraborty, A., & Manna, S. S. (2010) · Physical Review E · doi:10.1103/physreve.81.016111 · Cited by 21

Implicit Microfoundations for Macroeconomics

Wright, I. P. (2009) · Economics · doi:10.5018/economics-ejournal.ja.2009-19 · Cited by 21

Empirical study and model of personal income

Souma, W., & Nirei, M. (2005) · New economic windows · doi:10.1007/88-470-0389-x_4 · Cited by 21

Physics-inspired analysis of the two-class income distribution in the USA in 1983–2018

Ludwig, D., & Yakovenko, V. M. (2022) · Philosophical Transactions of the Royal Society A: Mathematical, Physical and Engineering Sciences · doi:10.1098/rsta.2021.0162 · Cited by 20

The unfair consequences of equal opportunities: Comparing exchange models of wealth distribution

Caon, G. M., Gonçalves, S., & Iglesias, J. R. (2007) · The European Physical Journal Special Topics · doi:10.1140/epjst/e2007-00072-4 · Cited by 20

Condensation transition in polydisperse hard rods

Evans, M. R., Majumdar, S. N., Pagonabarraga, I., & Trizac, E. (2010) · The Journal of Chemical Physics · doi:10.1063/1.3263913 · Cited by 20

Kinetic market models with single commodity having price fluctuations

Chatterjee, A., & Chakrabarti, B. K. (2006) · The European Physical Journal B · doi:10.1140/epjb/e2007-00011-1 · Cited by 20

Characteristic distribution of the total and individual item scores on the Kessler Screening Scale for Psychological Distress (K6) in US adults

Tomitaka, S., Kawasaki, Y., Ide, K., Akutagawa, M., Yamada, H., Ono, Y., & Furukawa, T. A. (2017) · BMC Psychiatry · doi:10.1186/s12888-017-1449-1 · Cited by 19

A self-organising model of market with single commodity

Chakraborti, A., Pradhan, S., & Chakrabarti, B. K. (2001) · Physica A Statistical Mechanics and its Applications · doi:10.1016/s0378-4371(01)00195-9 · Cited by 19

Conservation laws, financial entropy and the eurozone crisisPreprint

Cockshott, P. W., & Zachariah, D. (2013) · RePEc: Research Papers in Economics · Cited by 19

A Stochastic Model of Wealth Distribution

Bose, I., & Banerjee, S. (2005) · New economic windows · doi:10.1007/88-470-0389-x_20 · Cited by 18

The Inequality Process Versus the Saved Wealth Model: Which Is the More Likely to Imply an Analogue of Thermodynamics in Social Science?

Angle, J. (2012) · Journal of Mathematical Sociology · doi:10.1080/0022250x.2011.556766 · Cited by 18

Credit creation under multiple banking regulations: The impact of balance sheet diversity on money supply

Xing, X., Wang, M., Wang, Y., & Stanley, E. (2019) · Economic Modelling · doi:10.1016/j.econmod.2019.09.030 · Cited by 18

Variation of Gini and Kolkata indices with saving propensity in the Kinetic Exchange model of wealth distribution: An analytical study

Joseph, B., & Chakrabarti, B. K. (2022) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2022.127051 · Cited by 18

Explicit decay rate for the Gini index in the repeated averaging model

Cao, F. (2022) · Mathematical Methods in the Applied Sciences · doi:10.1002/mma.8711 · Cited by 17

Universal laws of human society’s income distribution

Tao, Y. (2015) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2015.05.001 · Cited by 17

Distribution of Total Depressive Symptoms Scores and Each Depressive Symptom Item in a Sample of Japanese Employees

Tomitaka, S., Kawasaki, Y., Ide, K., Yamada, H., Miyake, H., & Furukaw, T. A. (2016) · PLoS ONE · doi:10.1371/journal.pone.0147577 · Cited by 17

Exponential distribution of total depressive symptom scores in relation to exponential latent trait and item threshold distributions: a simulation study

Tomitaka, S., Kawasaki, Y., Ide, K., Akutagawa, M., Yamada, H., & Furukawa, T. A. (2017) · BMC Research Notes · doi:10.1186/s13104-017-2937-6 · Cited by 17

Rigorous Results for the Distribution of Money on Connected Graphs (Models with Debts)

Lanchier, N., & Reed, S. (2019) · Journal of Statistical Physics · doi:10.1007/s10955-019-02334-z · Cited by 17

Simulation of a generalized asset exchange model with economic growth and wealth distribution

Liu, K. K. L., Lubbers, N., Klein, W., Tobochnik, J., Boghosian, B. M., & Gould, H. (2021) · Physical review. E · doi:10.1103/physreve.104.014150 · Cited by 17

On Fourier-Based Inequality Indices

Toscani, G. (2022) · Entropy · doi:10.3390/e24101393 · Cited by 17

Agent dynamics in kinetic models of wealth exchange

Chatterjee, A., & Sen, P. (2010) · Physical Review E · doi:10.1103/physreve.82.056117 · Cited by 17

A power law tail in India's wealth distribution: Evidence from survey data

Jayadev, A. (2007) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2007.08.049 · Cited by 17

Comparison of social and physical free energies on a toy model

Kasać, J., Štefančić, H., & Stepanić, J. (2004) · Physical Review E · doi:10.1103/physreve.70.016117 · Cited by 17

Detailed Simulation Results for Some Wealth Distribution Models in Econophysics

Bhattacharya, K., Mukherjee, G., & Manna, S. S. (2005) · New economic windows · doi:10.1007/88-470-0389-x_11 · Cited by 17

Modeling wealth distribution in growing markets

Basu, U., & Mohanty, P. K. (2008) · The European Physical Journal B · doi:10.1140/epjb/e2008-00372-9 · Cited by 17

Power law distribution of wealth in population based on a modified Equíluz-Zimmermann model

Xie, Y., Wang, B.-H., Hu, B., & Zhou, T. (2005) · Physical Review E · doi:10.1103/physreve.71.046135 · Cited by 17

Conservation Laws, Financial Entropy and the Eurozone Crisis

Cockshott, P. W., & Zachariah, D. (2014) · Economics · doi:10.5018/economics-ejournal.ja.2014-5 · Cited by 16

How to Win Acceptance of the Inequality Process as Economics?

Angle, J. (2013) · IIM Kozhikode Society & Management Review · doi:10.1177/2277975213507831 · Cited by 16

Entropy dissipation and propagation of chaos for the uniform reshuffling model

Cao, F., Jabin, P., & Motsch, S. (2023) · Mathematical Models and Methods in Applied Sciences · doi:10.1142/s0218202523500185 · Cited by 16

Analysis of Solidarity Effect for Entropy, Pareto, and Gini Indices on Two-Class Society Using Kinetic Wealth Exchange Model

Lim, G., & Min, S. (2020) · Entropy · doi:10.3390/e22040386 · Cited by 16

Effects of Vaccination Efficacy on Wealth Distribution in Kinetic Epidemic Models

Bernardi, E., Pareschi, L., Toscani, G., & Zanella, M. (2022) · Entropy · doi:10.3390/e24020216 · Cited by 16

Entropy of Continuous Mixtures and the Measure Problem

Maynar, P., & Trizac, E. (2011) · Physical Review Letters · doi:10.1103/physrevlett.106.160603 · Cited by 16

Power-law distributions from additive preferential redistributions

Ree, S. (2006) · Physical Review E · doi:10.1103/physreve.73.026115 · Cited by 16

The Immediate Exchange model: an analytical investigation

Katriel, G. (2015) · The European Physical Journal B · doi:10.1140/epjb/e2014-50661-7 · Cited by 16

Study of a market model with conservative exchanges on complex networks

Braunstein, L. A., Macri, P. A., & Iglesias, J. R. (2013) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2012.12.030 · Cited by 16

Wealth distribution, Pareto law, and stretched exponential decay of money: Computer simulations analysis of agent-based models

Aydıner, E., Cherstvy, A. G., & Metzler, R. (2017) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2017.08.017 · Cited by 16

From interacting agents to Boltzmann-Gibbs distribution of money

Cao, F., & Jabin, P. (2024) · Nonlinearity · doi:10.1088/1361-6544/ad8c8c · Cited by 15

Wealth inequality and social mobility: A simulation-based modelling approach

Yang, X., & Zhou, P. (2022) · Journal of Economic Behavior & Organization · doi:10.1016/j.jebo.2022.02.012 · Cited by 15

Analysis of resources distribution in economics based on entropy

Antoniou, I. E., Иванов, В. В., Korolev, Y. L., Kryanev, A. V., Matokhin, V. V., & Suchanecki, Z. (2002) · Physica A Statistical Mechanics and its Applications · doi:10.1016/s0378-4371(01)00575-1 · Cited by 15

Wealth dynamics in world trade

Cha, M.-Y., Lee, J. W., Lee, D., & Kim, D. H. (2010) · Computer Physics Communications · doi:10.1016/j.cpc.2010.08.037 · Cited by 15

Investigating the distribution of personal income obtained from the recent U.S. data

Newby, M., Behr, A., & Feizabadi, M. S. (2011) · Economic Modelling · doi:10.1016/j.econmod.2010.12.006 · Cited by 15

‘Bosons’ and ‘fermions’ in social and economic systems

Rashkovskiy, S. A. (2018) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2018.09.057 · Cited by 15

Distribution of item responses and total item scores for the Center for Epidemiologic Studies Depression Scale (CES-D): Data from the Irish Longitudinal Study on Ageing (TILDA)

Tomitaka, S., Kawasaki, Y., Ide, K., Akutagawa, M., Ono, Y., & Furukawa, T. A. (2018) · PLoS ONE · doi:10.1371/journal.pone.0202607 · Cited by 15

Money distribution in agent-based models with position-exchange dynamics: the Pareto paradigm revisited

Aydıner, E., Cherstvy, A. G., & Metzler, R. (2019) · The European Physical Journal B · doi:10.1140/epjb/e2019-90674-0 · Cited by 15

Thermodynamics of inequalities: From precariousness to economic stratification

Smerlak, M. (2015) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2015.09.001 · Cited by 15

Experimental evidence for the interplay between individual wealth and transaction network

Tseng, J.-J., Li, S.-P., & Wang, S.-C. (2009) · The European Physical Journal B · doi:10.1140/epjb/e2009-00424-8 · Cited by 15

Utility Function from Maximum Entropy Principle

Darooneh, A. H. (2006) · Entropy · doi:10.3390/e8010018 · Cited by 15

Market volatility modeling for short time window

Neto, P. S. G. D. M., Silva, D. A., Ferreira, T. A. E., & Cavalcanti, G. D. C. (2011) · Physica A Statistical Mechanics and its Applications · doi:10.1016/j.physa.2011.04.031 · Cited by 15

Visualizing the Invisible Hand of Markets: Simulating Complex Dynamic Economic Interactions

Jaffé, K. (2015) · Intelligent systems in accounting, finance and management/Intelligent systems in accounting, finance & management · doi:10.1002/isaf.1368 · Cited by 14

Socio-Economic Inequalities: A Statistical Physics Perspective

Chatterjee, A. (2015) · New economic windows · doi:10.1007/978-3-319-08473-2_12 · Cited by 14

Relationship between Item Responses of Negative Affect Items and the Distribution of the Sum of the Item Scores in the General Population

Tomitaka, S., Kawasaki, Y., Ide, K., Akutagawa, M., Yamada, H., Furukawa, T. A., & Ono, Y. (2016) · PLoS ONE · doi:10.1371/journal.pone.0165928 · Cited by 14

Social climbing and Amoroso distribution

Dimarco, G., & Toscani, G. (2020) · Mathematical Models and Methods in Applied Sciences · doi:10.1142/s0218202520500426 · Cited by 14

Non-conservative kinetic model of wealth exchange with saving of production

Quevedo, D. S., & Quimbay, C. J. (2020) · The European Physical Journal B · doi:10.1140/epjb/e2020-10193-3 · Cited by 14

XXXI Encontro Nacional de F́ısica da Matéria Condensada / ID: 862-1 1 Statistical Mechanics of Money in a Closed Economic System

Gomes, R. A., & Leão, S. D. A. (2014)

Statistical mechanics approach to the probability distribution of moneyPreprint

Yakovenko, V. M. (2010) · RePEc: Research Papers in Economics · doi:10.48550/arxiv.1007.5074 · Cited by 17

Nonequilibrium statistical mechanics of money/energy exchange models

Miao, M., Makarov, D. E., & Blom, K. (2024) · Journal of Physics A Mathematical and Theoretical · doi:10.1088/1751-8121/ad369b · Cited by 4

ContentsPreprint

Yakovenko, V. M., & Rosser, J. B. (2009)

Colloquium : Statistical mechanics of money, wealth, and income

Yakovenko, V. M., & Rosser, J. B. (2009) · Reviews of Modern Physics · doi:10.1103/revmodphys.81.1703 · Cited by 559