@article{discovery10047977,
            note = {This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions.},
          volume = {57},
           pages = {10011--10025},
           month = {August},
          number = {30},
         journal = {Industrial and Engineering Chemistry Research},
            year = {2018},
           title = {Traveling Traders' Exchange Problem: Stochastic Modeling Framework and Two-Layer Model Identification Strategy},
       publisher = {American Chemical Society},
            issn = {0888-5885},
          author = {Huang, C and Cattani, F and Piccione, PM and Galvanin, F},
        abstract = {The Travelling Traders' Exchange Problem (TTEP) is formalised, aiming at studying the
collision-exchange systems found in various research areas. As an example of the TTEP models, a
1-D model is developed and characterised in detail. The computational stochastic simulation of the
1-D TTEP model relies on a stochastic simulation algorithm implemented based on the Monte Carlo
method. A model identification framework is proposed where the money distribution in the system
obtained from the stochastic model is characterised in terms of (a) standard deviation of the money
redistribution; (b) its probability density function. Results indicate that the expressions of the
estimated functions for (a) and (b) are tightly related to the system input conditions. The example of
curve fitting on the probability density function shows how the variation of money redistribution in the system in time is driven by different values of the parameters describing the interaction
mechanism.},
             url = {https://doi.org/10.1021/acs.iecr.8b00338},
        keywords = {Travelling traders' exchange problem; collision-exchange system; Monte Carlo method; stochastic simulation}
}