Linear and Nonlinear Hyperbolic Equations

Hyperbolic Systems Modelling Currency Hoarding

speaker: Jeffrey Rauch (Michigan University)

abstract: We introduce and analyse linear systems of hyperbolic partial differential equations that model the hoarding of currency. The goal is to deduce the hoarding behavior from observations of circulating bills. The large time asymptotics of the models is identified in all cases. The mathematical analysis is novel, partly because of nonstandard boundary conditions. To identify parameters we suggest the measurement of the age histogram of notes, the rate of growth, and the retard in wear of notes due to hoarding. In our models that suffices to identify all but one quantity.

timetable:
Thu 11 Feb, 9:00 - 9:50, Sala Conferenze Centro De Giorgi
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