On a Boltzmann mean field model for knowledge growth

DOI10.1137/15M1018599zbMATH Open1347.49057arXiv1503.08419OpenAlexW1866514497MaRDI QIDQ2821709FDOQ2821709

Authors: Martin Burger, Alexander Lorz, M-T Wolfram 

Publication date: 23 September 2016

Published in: SIAM Journal on Applied Mathematics (Search for Journal in Brave)

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.

Full work available at URL: https://arxiv.org/abs/1503.08419

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zbMATH Keywords

Hamilton-Jacobi-Bellman equationsmean field gamesBoltzmann-type equationsknowledge growth

Mathematics Subject Classification ID

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)

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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
• Parabolic free boundary price formation models under market size fluctuations
• Mean-field selective optimal control via transient leadership
• Paradigm shift: a mean field game approach
• A mean field game model of firm-level innovation
• A new model for competitive knowledge diffusion in organization based on the statistical thermodynamics
• 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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