Active Particles Methods in Economics: New Perspectives in the Interaction between Mathematics and Economics...

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Nicola Bellomo (Universidad de Granada) Diletta Burini (Liceo statale classico e musicale ‘A. Mariotti’)

Active Particles Methods in Economics

New Perspectives in the Interaction between Mathematics and Economics

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

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English

Cambridge University Press
02 January 2025

Sociology; Behavioural economics; Applied mathematics

Series: Elements in Complexity and Agent-based Economics

Summary
Details

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.

By: Nicola Bellomo (Universidad de Granada), Diletta Burini (Liceo statale classico e musicale ‘A. Mariotti’), Valeria Secchini (Charles University, Prague), Pietro Terna (Università di Torino, Italy)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
ISBN: 9781009548762
ISBN 10: 100954876X
Series: Elements in Complexity and Agent-based Economics
Pages: 64
Publication Date: 02 January 2025
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active