Düring2018_Article_KineticModelsForOptimalControl.pdf (952.08 kB)
Kinetic models for optimal control of wealth inequalities
journal contribution
posted on 2023-06-09, 14:30 authored by Bertram Duering, Lorenzo Pareschi, Giuseppe ToscaniWe 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 SystemsISSN
1434-6028Publisher
EDP SciencesExternal DOI
Issue
10Volume
91Page range
265 1-12Department 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
2018-08-13First Open Access (FOA) Date
2018-10-29First Compliant Deposit (FCD) Date
2018-08-09Usage metrics
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