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Journal Articles Statistics and Probability Letters Year : 2016

A simple probabilistic approach of the Yard-Sale model

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1
Christophe Chorro

Abstract

We propose in the present paper a probabilistic approach of the so-called Hayes (2002) Yard-Sale model using classical diffusion approximations of Markov chains. We partly recover, at the very least for small and high frequency transactions, recent results of Boghosian (2014a) and Boghosian et al. (2015) concerning both wealth condensation in the absence of redistribution mechanisms and steady state distributions when a uniform capital taxation is imposed.

Dates and versions

hal-01387028 , version 1 (25-10-2016)

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Christophe Chorro. A simple probabilistic approach of the Yard-Sale model. Statistics and Probability Letters, 2016, 112, pp.35-40. ⟨10.1016/j.spl.2016.01.012⟩. ⟨hal-01387028⟩
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