Alessio Porretta: Mean Field Games Models of Knowledge-based Growth

Seminars - De Finetti Risk Seminars
ALESSIO PORRETTA, University of Rome Tor Vergata
18:00 - 19:00
room 3-E4-SR03 (Rontgen)


Many endogenous growth models have been suggested in macro-economics where production is based on technology and exchange of knowledge. In this direction, R.E. Lucas and B. Moll introduced a mean-field game system where individual production is driven by knowledge diffusion. In this context,  the so-called Balanced Growth Paths represent possible long term equilibria and are described by traveling waves solutions of the PDE system, coupling reaction-diffusion and Hamilton-Jacobi equations. In this talk I will discuss possibly different approaches to the existence of BGPs and the construction of long-time stabilizing trajectories for models where a  technological frontier prevents imitation of the top firms.


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