SWARMS DYNAMICS APPROACH TO BEHAVIORAL ECONOMY: THEORETICAL TOOLS AND PRICE SEQUENCES

NICOLA BELLOMO; SARAH DE NIGRIS; DAMIAN KNOPOFF; MATTEO MORINO; PIETRO TERNA

NETWORKS AND HETEROGENEOUS MEDIA

AMER INST MATHEMATICAL SCIENCES

Lugar: springfield; Año: 2020

1556-1801

This paper presents a development of the mathematical theoryof swarms towards a systems approach to behavioral dynamics of social andeconomical systems. The modeling approach accounts for the ability of socialentities are to develop a specific strategy which is heterogeneously distributedby interactions which are nonlinearly additive. A detailed application to themodeling of the dynamics of prices in the interaction between buyers and sellersis developed to describe the predictive ability of the model.