Consider the merger process described in [472]. The process is controlled by the merger probability

where α = 3/2 is considered in the paper.
(a) Simulate the process for α = 3/2, say α = 1 and α = 2, and compare your result to the result in Fig. 3 of the paper.
(b) Derive the set of mean field master equations given in Eqs. (3.2), (3.3) and (3.4).
(c) For different values of α, solve the mean-field master equations by numerical iteration starting from an initial population of 2000 agents.

Transcribed Image Text:

Pmeger = p(1+n),