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Evolution analysis of the states of the EZ model |
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| Authors: | Chen Qing-Hu Ding Yi-Ming Dong Hong-Guang |
| Affiliation: | Department of Systems Science, School of Management, Beijing Normal University, Beijing 100875, China; Wuhan Institute of Physics and Mathematics, The Chinese Academy of Sciences, P.O. Box 71010, Wuhan 430071, China; Beijing Higher Education Press, Chaoyang District, Beijing 100029, China |
| Abstract: | Based on suitable choice of states, this paper studies the stabilityof the equilibrium state of the EZ model by regarding the evolution of the EZ model as a Markov chain and by showing that the Markov chain isergodic. The Markov analysis is applied to the EZ model with smallnumber of agents, the exact equilibrium state for N = 5 andnumerical results for N=18 are obtained. |
| Keywords: | EZ model Markov chain stationary distribution equilibrium state |
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