Kinetic exchange models of societies and economies

Abstract

The statistical nature of collective human behaviour in a society is a topic of broad current interest. From formation of consensus through exchange of ideas, distributing wealth through exchanges of money, traffic flows, growth of cities to spread of infectious diseases, the application range of such collective responses cuts across multiple disciplines. Kinetic models have been an elegant and powerful tool to explain such collective phenomena in a myriad of human interaction-based problems, where an energy consideration for dynamics is generally inaccessible. Nonetheless, in this age of Big Data, seeking empirical regularities emerging out of collective responses is a prominent and essential approach, much like the empirical thermodynamic principles preceding quantitative foundations of statistical mechanics. In this introductory article of the theme issue, we will provide an overview of the field of applications of kinetic theories in different socio-economic contexts and its recent boosting topics. Moreover, we will put the contributions to the theme issue in an appropriate perspective.This article is part of the theme issue ‘Kinetic exchange models of societies and economies’.