EconStor >
Universität Konstanz >
Center of Finance and Econometrics (CoFE), Universität Konstanz >
CoFE-Diskussionspapiere, Universität Konstanz >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/32181
  
Title:Hydrodynamics from kinetic models of conservative economies PDF Logo
Authors:Düring, B.
Toscani, Giuseppe
Issue Date:2007
Series/Report no.:Discussion paper series // Zentrum für Finanzen und Ökonometrie, Universität Konstanz 2007,06
Abstract: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 asymp- totic 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.
Subjects:Wealth and income distributions
Boltzmann equation
hydrodynamics
Euler equations
Persistent Identifier of the first edition:urn:nbn:de:bsz:352-opus-42923
Document Type:Working Paper
Appears in Collections:CoFE-Diskussionspapiere, Universität Konstanz

Files in This Item:
File Description SizeFormat
543863948.pdf348.14 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/32181

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.