Kinetic modeling of economic games with large number of participants

Alexander Bobylev; Åsa Windfäll

doi:10.3934/krm.2011.4.169

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2011, Volume 4, Issue 1: 169-185. Doi: 10.3934/krm.2011.4.169

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Kinetic modeling of economic games with large number of participants

Alexander Bobylev^1, and
Åsa Windfäll^1,

1.
Department of Mathematics, Karlstad University, SE-651 88 Karlstad

Received: October 2010

Revised: December 2010

Published: March 2011

Abstract / Introduction Related Papers Cited by

Abstract

We study a Maxwell kinetic model of socio-economic behavior introduced in the paper A. V. Bobylev, C. Cercignani and I. M. Gamba, Commun. Math. Phys., 291 (2009), 599-644. The model depends on three non-negative parameters $\{\gamma, q ,s\}$ where $0<\gamma\leq 1$ is the control parameter. Two other parameters are fixed by market conditions. Self-similar solution of the corresponding kinetic equation for distribution of wealth is studied in detail for various sets of parameters. In particular, we investigate the efficiency of control. Some exact solutions and numerical examples are presented. Existence and uniqueness of solutions are also discussed.

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Mathematics Subject Classification: 82C40.

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References

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