Resource title

A Note on Aoki-Yoshikawa Model

Resource image

image for OpenScout resource :: A Note on Aoki-Yoshikawa Model

Resource description

In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has di¤erent equilibrium distributions depending on the form of transition probabilities. In the version of the dynamic AYM presented here, transition probabilities depend on a parameter c tuning the choice of a new sector for workers leaving their sector. The solution of Aoki and Yoshikawa is recovered only in the case c = 0. All the other possible cases give di¤erent equilibrium probability distributions, including the Bose-Einstein distribution.

Resource author

Enrico Scalas, Ubaldo Garibaldi

Resource publisher

Resource publish date

Resource language


Resource content type


Resource resource URL

Resource license

Adapt according to the presented license agreement and reference the original author.