Swarms dynamics approach to behavioral economy: Theoretical tools and price sequences

Nicola Bellomo; Sarah De Nigris; Damián Knopoff; Matteo Morini; Pietro Terna; Nicola Bellomo; Sarah De Nigris; Damián Knopoff; Matteo Morini; Pietro Terna

doi:10.3934/nhm.2020022

Networks and Heterogeneous Media

2020, Volume 15, Issue 3: 353-368. doi: 10.3934/nhm.2020022

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Swarms dynamics approach to behavioral economy: Theoretical tools and price sequences

1.
University of Granada, Departamento de Matemática Aplicada, 18071-Granada, Spain, Collegio Carlo Alberto, Torino, Italy, Politecnico Torino, Italy
2.
Joint Research Centre, European Commission, Ispra, VA, Italy
3.
Centro de Investigación y Estudios de Matemática (CONICET) and Famaf (UNC), Medina Allende s/n, 5000 Córdoba, Argentina
4.
Credimi S.p.A., Milano, MI, Italy
5.
University of Torino, Torino, Italy, Collegio Carlo Alberto, Torino, Italy

Received: 01 December 2019 Revised: 01 February 2020 Published: 09 September 2020
82D99, 91C99, 91D10

This paper presents a development of the mathematical theory of swarms towards a systems approach to behavioral dynamics of social and economical systems. The modeling approach accounts for the ability of social entities are to develop a specific strategy which is heterogeneously distributed by interactions which are nonlinearly additive. A detailed application to the modeling of the dynamics of prices in the interaction between buyers and sellers is developed to describe the predictive ability of the model.
- Kinetic theory,
- active particles,
- stochastic differential games,
- evolution,
- learning,
- social systems,
- economy
Citation: Nicola Bellomo, Sarah De Nigris, Damián Knopoff, Matteo Morini, Pietro Terna. Swarms dynamics approach to behavioral economy: Theoretical tools and price sequences[J]. Networks and Heterogeneous Media, 2020, 15(3): 353-368. doi: 10.3934/nhm.2020022

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Abstract

This paper presents a development of the mathematical theory of swarms towards a systems approach to behavioral dynamics of social and economical systems. The modeling approach accounts for the ability of social entities are to develop a specific strategy which is heterogeneously distributed by interactions which are nonlinearly additive. A detailed application to the modeling of the dynamics of prices in the interaction between buyers and sellers is developed to describe the predictive ability of the model.

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