What's in YOUR wallet?
arXiv:1306.2060 · doi:10.1007/s00283-015-9570-9
Abstract
We use Markov chains and numerical linear algebra -- and several CPU hours -- to determine the expected number of coins in a person's possession under certain conditions. We identify the spending strategy that results in the minimum possible expected number of coins, and we consider two other strategies that are more realistic.
10 pages; final version