Telos Grand Central
Matthieu R. C. Barbier

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Scaling principles in stochastic exchanges

Work at the intersection of physics and economics has largely focused on networks and random walks of some sort, but a significant subset of the literature is concerned with modeling repeated stochastic interactions between agents in a population. Stochastic transfers (of capital, wealth...) can be understood via a kinetic theory, and this approach can shed a new light on some empirical scaling properties.