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Article

Effect of Savings on a Gas-Like Model Economy with Credit and Debt

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Departamento de Matemáticas Aplicadas y Sistemas, Universidad Autónoma Metropolitana Cuajimalpa, Vasco de Quiroga 4871, Ciudad de México 05348, Mexico
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Escuela Superior de Economía, Instituto Politécnico Nacional, Plan de Agua Prieta 66, Ciudad de México 11350, Mexico
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Author to whom correspondence should be addressed.
Academic Editor: Kimmo Kaski
Entropy 2021, 23(2), 196; https://doi.org/10.3390/e23020196
Received: 31 December 2020 / Revised: 30 January 2021 / Accepted: 2 February 2021 / Published: 5 February 2021
(This article belongs to the Special Issue Statistical Physics and Social Sciences)
In kinetic exchange models, agents make transactions based on well-established microscopic rules that give rise to macroscopic variables in analogy to statistical physics. These models have been applied to study processes such as income and wealth distribution, economic inequality sources, economic growth, etc., recovering well-known concepts in the economic literature. In this work, we apply ensemble formalism to a geometric agents model to study the effect of saving propensity in a system with money, credit, and debt. We calculate the partition function to obtain the total money of the system, with which we give an interpretation of the economic temperature in terms of the different payment methods available to the agents. We observe an interplay between the fraction of money that agents can save and their maximum debt. The system’s entropy increases as a function of the saved proportion, and increases even more when there is debt. View Full-Text
Keywords: econophysics; savings propensity; geometric models econophysics; savings propensity; geometric models
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MDPI and ACS Style

Chacón-Acosta, G.; Ángeles-Sánchez, V. Effect of Savings on a Gas-Like Model Economy with Credit and Debt. Entropy 2021, 23, 196. https://doi.org/10.3390/e23020196

AMA Style

Chacón-Acosta G, Ángeles-Sánchez V. Effect of Savings on a Gas-Like Model Economy with Credit and Debt. Entropy. 2021; 23(2):196. https://doi.org/10.3390/e23020196

Chicago/Turabian Style

Chacón-Acosta, Guillermo, and Vanessa Ángeles-Sánchez. 2021. "Effect of Savings on a Gas-Like Model Economy with Credit and Debt" Entropy 23, no. 2: 196. https://doi.org/10.3390/e23020196

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