Uniform Propagation of Chaos for a Dollar Exchange Model

Explore a concise introduction to the research paper "Uniform propagation of chaos for a dollar exchange model" in this 11-minute video presentation. Delve into the poor-biased model for money exchange, examining how agents are randomly selected based on their current wealth to give a dollar to another randomly chosen agent. Discover the study's findings on the distribution of money among agents converging to a Poisson distribution as the number of agents and time increase. Learn about the uniform-in-time propagation of chaos result and its implications for approximating stochastic agent-based dynamics using mean-field deterministic infinite systems of ordinary differential equations. Gain insights into topics such as econophysics, agent-based models, coupling, and Wasserstein distance. Whether you're a mathematician, student, or professional interested in mathematical economics, this video offers valuable knowledge from the 2024 research paper published in the European Journal of Applied Mathematics.

Uniform propagation of chaos for a dollar exchange model