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Hydrodynamics from kinetic models of conservative economies

Academic Article
Publication Date:
2007
abstract:
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 rare¯ed 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, 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. Numerical simulations on the °uid equations are then proposed and analyzed for various laws of variation of the propensity.
Iris type:
1.1 Articolo in rivista
Keywords:
WEALTH DISTRIBUTION; EULER EQUATIONS; KINETIC THEORY
List of contributors:
Duering, Bertram; Toscani, Giuseppe
Handle:
https://iris.unipv.it/handle/11571/32874
Published in:
PHYSICA. A
Journal
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