a Beijing Higher Education Press, Chaoyang District,
Beijing 100029, China; b Department of Systems Science, School of Management, Beijing Normal University, Beijing 100875, China; c Wuhan Institute of Physics and Mathematics, The Chinese Academy of Sciences, P.O. Box 71010, Wuhan 430071, China
Abstract Based on suitable choice of states, this paper studies the stability
of 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 is
ergodic. The Markov analysis is applied to the EZ model with small
number of agents, the exact equilibrium state for N = 5 and
numerical results for N=18 are obtained.
Received: 12 June 2008
Revised: 07 July 2008
Published: 20 April 2009
