A mean field game model for COVID-19 with human capital accumulation

IF 1.2 3区经济学 Q3 ECONOMICS Economic Theory Pub Date : 2023-07-03 DOI:10.1007/s00199-023-01505-0

Daria Ghilli, Cristiano Ricci, Giovanni Zanco

引用次数: 0

Abstract

In this manuscript, we study a model of human capital accumulation during the spread of disease following an agent-based approach, where agents behave maximising their intertemporal utility. We assume that the agent interaction is of mean field type, yielding a mean field game description of the problem. We discuss how the analysis of a model including both the mechanism of change of species from one epidemiological state to the other and an optimisation problem for each agent leads to an aggregate behaviour that is not easy to describe, and that sometimes exhibits structural issues. Therefore we eventually propose and study numerically a SEIRD model in which the rate of infection depends on the distribution of the population, given exogenously as the solution to the mean field game system arising as the macroscopic description of the discrete multi-agent economic model for the accumulation of human capital. Such a model arises in fact as a simplified but tractable version of the initial one.

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考虑人力资本积累的COVID-19平均场博弈模型

在本文中，我们研究了疾病传播期间人力资本积累的模型，该模型遵循基于主体的方法，其中主体的行为最大化其跨期效用。我们假设代理交互是平均场类型，产生问题的平均场博弈描述。我们讨论了如何分析一个模型，包括物种从一种流行病学状态到另一种状态的变化机制和每个因子的优化问题，导致不容易描述的总体行为，有时表现出结构性问题。因此，我们最终提出并研究了一个SEIRD模型，在该模型中，感染率取决于人口分布，外源性地作为平均场博弈系统的解决方案，作为对人力资本积累的离散多主体经济模型的宏观描述。这种模型实际上是最初模型的简化但易于处理的版本。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economic Theory ECONOMICS-

CiteScore

2.50

自引率

23.10%

发文量

期刊介绍： The purpose of Economic Theory is to provide an outlet for research - in all areas of economics based on rigorous theoretical reasoning, and - on specific topics in mathematics which is motivated by the analysis of economic problems. Economic Theory''s scope encompasses - but is not limited to - the following fields. - classical and modern equilibrium theory - cooperative and non-cooperative game theory - macroeconomics - social choice and welfare - uncertainty and information, intertemporal economics (including dynamical systems) - public economics - international and developmental economics - financial economics, money and banking - industrial organization Economic Theory also publishes surveys if they clearly picture the basic ideas at work in some areas, the essential technical apparatus which is used and the central questions which remain open. The development of a productive dialectic between stylized facts and abstract formulations requires that economic relevance be at the forefront. Thus, correct, and innovative, mathematical analysis is not enough; it must be motivated by - and contribute to - the understanding of substantive economic problems. Officially cited as: Econ Theory

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