On a Boltzmann mean field model for knowledge growth
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Publication:2821709
PDEs in connection with game theory, economics, social and behavioral sciences (35Q91) Differential games and control (49N70) Differential games (aspects of game theory) (91A23) Boltzmann equations (35Q20) Existence theories for optimal control problems involving partial differential equations (49J20) Hamilton-Jacobi theories (49L99) Applications of optimal control and differential games (49N90)
Abstract: In this paper we analyze a Boltzmann type mean field game model for knowledge growth, which was proposed by Lucas and Moll. We discuss the underlying mathematical model, which consists of a coupled system of a Boltzmann type equation for the agent density and a Hamilton-Jacobi-Bellman equation for the optimal strategy. We study the analytic features of each equation separately and show local in time existence and uniqueness for the fully coupled system. Furthermore we focus on the construction and existence of special solutions, which relate to exponential growth in time - so called balanced growth path solutions. Finally we illustrate the behavior of solutions for the full system and the balanced growth path equations with numerical simulations.
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Cited in
(13)- An introduction to mean field game theory
- Boltzmann and Fokker-Planck equations modelling the Elo rating system with learning effects
- Mean-field selective optimal control via transient leadership
- Parabolic free boundary price formation models under market size fluctuations
- Paradigm shift: a mean field game approach
- A mean field game model of firm-level innovation
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- A kinetic games framework for insurance plans
- Balanced growth path solutions of a Boltzmann mean field game model for knowledge growth
- On balanced growth path solutions of a knowledge diffusion and growth model
- Traveling waves in a mean field learning model
- The variational structure and time-periodic solutions for mean-field games systems
- Traveling waves for a nonlocal KPP equation and mean-field game models of knowledge diffusion
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