University of Cambridge > Talks.cam > Isaac Newton Institute Seminar Series > On a mean field model for knowledge growth

On a mean field model for knowledge growth

Add to your list(s) Download to your calendar using vCal

If you have a question about this talk, please contact Mustapha Amrani.

Systemic Risk: Mathematical Modelling and Interdisciplinary Approaches

Lucas and Moll proposed a mean field model for knowledge growth, in which individuals can split their time between producing goods with their knowledge or increasing their knowledge level by meeting other individuals. These meetings are modeled by ‘collisions’, in which knowledge is exchanged. Hence the evolution of the knowledge distribution can by described by a Boltzmann type equation. The choice of how much time is spend on learning or producing goods, is determined by the overall production level. The resulting mean field model corresponds to an optimal control problem with a Boltzmann type constraint. We present first analytic results and discuss the existence of special equilibrium solutions. Furthermore we illustrate the behaviour of the model with numerical simulations.

This talk is part of the Isaac Newton Institute Seminar Series series.

Tell a friend about this talk:

This talk is included in these lists:

Note that ex-directory lists are not shown.

 

© 2006-2019 Talks.cam, University of Cambridge. Contact Us | Help and Documentation | Privacy and Publicity