Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228143
Authors: 
Bellomo, Nicola
Dosi, Giovanni
Knopoff, Damian A.
Virgillito, Maria Enrica
Year of Publication: 
2020
Series/Report no.: 
LEM Working Paper Series No. 2020/04
Abstract: 
This paper represents the first attempt to bridge the evolutionary theory in economics and the theory of active particles in mathematics. It seeks to present a kinetic model for an evolutionary formalization of socio-economic systems. The derived new mathematical formulation intends to formalize the processes of learning and selection as the two fundamental drivers of evolutionary systems [7]. To coherently representthe aforementioned properties, the kinetic theory of active particles [1] is here further developed, including the complex interaction of two hierarchical functional subsystems. Modeling and simulations enlighten the predictive ability of the approach. Finally, we outline the potential avenues for future research.
Subjects: 
Evolutionary dynamics
idiosyncratic learning
market selection
active particles
kinetic theory
JEL: 
O
D21
C63
Document Type: 
Working Paper

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