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Series:   Elements in Complexity and Agent-based Economics

Active Particles Methods in Economics

New Perspectives in the Interaction between Mathematics and Economics

Published online by Cambridge University Press:  22 November 2024

Nicola Bellomo ,
Diletta Burini ,
Valeria Secchini  and
Pietro Terna
Nicola Bellomo
Affiliation:
Universidad de Granada
Diletta Burini
Affiliation:
Liceo statale classico e musicale ‘A. Mariotti’
Valeria Secchini
Affiliation:
Charles University, Prague
Pietro Terna
Affiliation:
Università di Torino, Italy

Summary

The aim of this Element is to understand how far mathematical theories based on active particle methods have been applied to describe the dynamics of complex systems in economics, and to look forward to further research perspectives in the interaction between mathematics and economics. The mathematical theory of active particles and the theory of behavioural swarms are selected for the above interaction. The mathematical approach considered in this work takes into account the complexity of living systems, which is a key feature of behavioural economics. The modelling and simulation of the dynamics of prices within a heterogeneous population is reviewed to show how mathematical tools can be used in real applications.
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Keywords

economic modelinginteracting agentsactive particleprice emergencemathematical modelling
Type
Element
Information
Series: Elements in Complexity and Agent-based Economics
Online ISBN: 9781009548755
Publisher: Cambridge University Press
Print publication: 02 January 2025

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