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Mathematics > Analysis of PDEs

arXiv:1403.4217 (math)
[Submitted on 17 Mar 2014]

Title:Socio-economic applications of finite state mean field games

Authors:Diogo A. Gomes, Roberto M. Velho, Marie-Therese Wolfram
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Abstract:In this paper we present different applications of finite state mean field games to socio-economic sciences. Examples include paradigm shifts in the scientific community or the consumer choice behaviour in the free market. The corresponding finite state mean field game models are hyperbolic systems of partial differential equations, for which we present and validate different numerical methods. We illustrate the behaviour of solutions with various numerical experiments, which show interesting phenomena like shock formation. Hence we conclude with an investigation of the shock structure in the case of two-state problems.
Comments: 18 pages, 7 figures
Subjects: Analysis of PDEs (math.AP)
Cite as: arXiv:1403.4217 [math.AP]
  (or arXiv:1403.4217v1 [math.AP] for this version)
  https://doi.org/10.48550/arXiv.1403.4217
Related DOI: https://doi.org/10.1098/rsta.2013.0405

Submission history

From: Roberto Machado Velho [view email]
[v1] Mon, 17 Mar 2014 19:13:25 UTC (87 KB)
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