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• W2754327537 abstract "The dynamics of the number of participants in a large market is described by nonlinear partial differential equations of kinetic and diffusive type. The results on the modeling, analysis, and numerical simulation of three market models are briefly reviewed. The interplay of the agents with external sources, herding phenomena, and irrationality of the individuals as well as the exchange of knowledge and wealth is explored mathematically. The focus lies on the mathematical understanding of the differential equations rather than on the modeling of real economic situations, aiming at identifying models which are able to produce the desired effects." @default.
• W2754327537 created "2017-09-25" @default.
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• W2754327537 date "2017-01-01" @default.
• W2754327537 modified "2023-09-27" @default.
• W2754327537 title "Modeling of Herding and Wealth Distribution in Large Markets" @default.
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• W2754327537 doi "https://doi.org/10.1007/978-3-319-61282-9_2" @default.
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