Journal
NETWORKS AND HETEROGENEOUS MEDIA
Volume 15, Issue 3, Pages 353-368Publisher
AMER INST MATHEMATICAL SCIENCES-AIMS
DOI: 10.3934/nhm.2020022
Keywords
Kinetic theory; active particles; stochastic differential games; evolution; learning; social systems; economy
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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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