A quasi-linear utility function of fractional agent-based computational economic systems defined by Palm calculus (Q2279010)

The author of the paper considers properties of the fractional quasi-linear utility function \(U_j\big(\phi_{t_1},\phi_{t_2},\ldots, \phi_{t_k}\big)\) defined by equation \[ U_j\big(\phi_{t_1},\phi_{t_2},\ldots, \phi_{t_k}\big)=\sum_{i=1}^{j}c_i\phi_{t_i}+\frac{1}{k-j}\sum_{i=J+1}^k c_iD^{\alpha_i}\phi_{t_i}, \] where index \(j\in\{1,2,\ldots, k\}\), \(\{c_1,c_2,\ldots, c_k\}\) is a collection of positive constants, \(D^{\alpha_{i}}\) with \(\alpha_i\in(0,1)\) for \(i\in\{j+1,\ldots, k\}\) are fractional differential operators and \(\phi_{t_1},\phi_{t_2},\ldots, \phi_{t_k}\) are values of a stationary random process. Problem of finding the maximum \(\max U_j\big(\phi_{t_1},\phi_{t_2},\ldots, \phi_{t_k}\big)\) is investigated in the case when \(c_i|\phi_{t_i}|\leq b_i\) for \(i\in\{1,\ldots,j\}\) and \(c_i|D^{\alpha_i}\phi_{t_i}|\leq \beta_i\) for \(i\in\{j+1,\ldots,k\}\) with some positive constant \(b_i\) and \(\beta_i\).