University of Sussex
Browse
Düring2018_Article_KineticModelsForOptimalControl.pdf (952.08 kB)

Kinetic models for optimal control of wealth inequalities

Download (952.08 kB)
journal contribution
posted on 2023-06-09, 14:30 authored by Bertram Duering, Lorenzo Pareschi, Giuseppe Toscani
We introduce and discuss optimal control strategies for kinetic models for wealth distribution in a simple market economy, acting to minimize the variance of the wealth density among the population. Our analysis is based on a finite time horizon approximation, or model predictive control, of the corresponding control problem for the microscopic agents' dynamic and results in an alternative theoretical approach to the taxation and redistribution policy at a global level. It is shown that in general the control is able to modify the Pareto index of the stationary solution of the corresponding Boltzmann kinetic equation, and that this modification can be exactly quantified. Connections between previous Fokker-Planck based models and taxation-redistribution policies and the present approach are also discussed.

Funding

MIUR-DAAD

Italian Ministry of Education, University and Research

Leverhulme Trust

History

Publication status

  • Published

File Version

  • Published version

Journal

European Physical Journal B: Condensed Matter and Complex Systems

ISSN

1434-6028

Publisher

EDP Sciences

Issue

10

Volume

91

Page range

265 1-12

Department affiliated with

  • Mathematics Publications

Research groups affiliated with

  • Numerical Analysis and Scientific Computing Research Group Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2018-08-13

First Open Access (FOA) Date

2018-10-29

First Compliant Deposit (FCD) Date

2018-08-09

Usage metrics

    University of Sussex (Publications)

    Categories

    No categories selected

    Licence

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC