Related papers: A kinetic equation for economic value estimation w…
We introduce a class of new one-dimensional linear Fokker--Planck type equations describing the evolution in time of the wealth in a multi-agent society. The equations are obtained, via a standard limiting procedure, by introducing an…
In this paper, we consider a simple kinetic model of economy involving both exchanges between agents and speculative trading. We show that the kinetic model admits non trivial quasi-stationary states with power law tails of Pareto type. In…
A multi-species Fokker-Planck model for simulating particle collisions in a plasma is presented. The model includes various parameters that must be tuned. Under reasonable assumptions on these parameters, the model satisfies appropriate…
In this work we extend a recent kinetic traffic model to the case of more than one class of vehicles, each of which is characterized by few different microscopic features. We consider a Boltzmann-like framework with only binary…
In this paper we present a Boltzmann-type kinetic approach to the modelling of road traffic, which includes control strategies at the level of microscopic binary interactions aimed at the mitigation of speed-dependent road risk factors.…
In recent work, Boltzmann and Fokker-Planck equations were derived for the "Yard-Sale Model" of asset exchange. For the version of the model without redistribution, it was conjectured, based on numerical evidence, that the time-asymptotic…
We investigate the volatility return intervals in the NYSE and FOREX markets. We explain previous empirical findings using a model based on the interacting agent hypothesis instead of the widely-used efficient market hypothesis. We derive…
The local balance equations for the density, momentum, and energy of a dilute gas of elastic or inelastic hard spheres, strongly confined between two parallel hard plates are obtained. The starting point is a Boltzmann-like kinetic…
We present a simple agent-based model to study the development of a bubble and the consequential crash and investigate how their proximate triggering factor might relate to their fundamental mechanism, and vice versa. Our agents invest…
A class of heterogeneous agent models is investigated where investors switch trading position whenever their motivation to do so exceeds some critical threshold. These motivations can be psychological in nature or reflect behaviour…
In this paper, we study a general class of inhomogeneous kinetic models that unifies fundamental models in both the statistical physics of particles and of waves, namely the kinetic Boltzmann equations and the kinetic wave equations, in…
We develop a behavioral asset pricing model in which agents trade in a market with information friction. Profit-maximizing agents switch between trading strategies in response to dynamic market conditions. Due to noisy private information…
Particle-based stochastic approximations of the Boltzmann equation are popular tools for simulations of non-equilibrium gas flows, for which the Navier-Stokes-Fourier equations fail to provide accurate description. However, these numerical…
We complete the kinetic theory of inhomogeneous systems with long-range interactions initiated in previous works. We use a simpler and more physical formalism. We consider a system of particles submitted to a small external stochastic…
A new kinetic theory Boltzmann-like collision term including correlations is proposed. In equilibrium it yields the one-particle distribution function in the form of a generalised-Lorentzian resembling but not being identical with the…
Boltzmann equation requires some alternative simpler kinetic model like BGK to replace the collision term. Such a kinetic model which replaces the Boltzmann collision integral should preserve the basic properties and characteristics of the…
The Boltzmann kinetic equation is obtained from an integro-differential master equation that describes a stochastic dynamics in phase space of an isolated thermodynamic system. The stochastic evolution yields a generation of entropy,…
This paper a kinetic Boltzmann equation having a general type of collision kernel and modelling spin-dependent Fermi gases at low temperatures modelled by a kinetic equation of Boltzmann type. The distribution functions have values in the…
Many features of granular media can be modeled by a fluid of hard spheres with inelastic collisions. Under rapid flow conditions, the macroscopic behavior of grains can be described through hydrodynamic equations accounting for dissipation…
We briefly review results on nonlinear kinetic equation of Boltzmann type which describe the evolution of wealth in a simple agents market. The mathematical structure of the underlying kinetic equations allows to use well-known techniques…