Hydrodynamics from kinetic models of conservative economies

Düring, Bertram; Toscani, Giuseppe

Hydrodynamics from kinetic models of conservative economies

Dateien

dp07_06.pdfGröße: 365.69 KBDownloads: 458

Datum

2007

Autor:innen

Düring, Bertram

Toscani, Giuseppe

Open Access-Veröffentlichung

Open Access Green

Sammlungen

Wirtschaftswissenschaften

Publikationstyp

Working Paper/Technical Report

Publikationsstatus

Published

Zusammenfassung

In this paper, we introduce and discuss the passage to hydrodynamic equations for kinetic models of conservative economies, in which the density of wealth depends on additional parameters, like the propensity to invest. As in kinetic theory of rarefied gases, the closure depends on the knowledge of the homogeneous steady wealth distribution (the Maxwellian) of the underlying kinetic model. The collision operator used here is the Fokker-Planck operator introduced by J.P. Bouchaud and M. Mezard in [4], which has been recently obtained in a suitable asymptotic of a Boltzmann-like model involving both exchanges between agents and speculative trading by S. Cordier, L. Pareschi and one of the authors [11]. Numerical simulations on the fluid equations are then proposed and analyzed for various laws of variation of the propensity.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

Wealth and income distributions, Boltzmann equation, hydrodynamics, Euler equations

Zitieren

ISO 690

DÜRING, Bertram, Giuseppe TOSCANI, 2007. Hydrodynamics from kinetic models of conservative economies

BibTex

@techreport{During2007Hydro-12040,
  year={2007},
  series={CoFE-Diskussionspapiere / Zentrum für Finanzen und Ökonometrie},
  title={Hydrodynamics from kinetic models of conservative economies},
  number={2007/06},
  author={Düring, Bertram and Toscani, Giuseppe}
}

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