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In this paper, we introduce and discuss the passage to hydrodynamic equations for kinetic models of conservative economies, in which the density of wealth depends on additional parameters, like the propensity to invest. As in kinetic theory of rarefied gases, the closure depends on the knowledge...
Persistent link: https://www.econbiz.de/10010266944
It was proved that balance equations for systems with corpuscular structure can be derived if a kinematic description by piece-wise analytic functions is available (Vamoş et al., Physica A 227 (1996) 81). This article presents a rigorous derivation of an one-dimensional hydrodynamic model for...
Persistent link: https://www.econbiz.de/10011063280