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A quasi-linear utility function of fractional agent-based computational economic systems defined by Palm calculus

  • Rabha W. IbrahimEmail author
Article
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Abstract

A new quasi-linear utility function is introduced by using the fractional calculus together with Palm calculus for agent computational economic systems. We aim to study the boundedness of the function in some Banach spaces. Moreover, we solve a control problem by maximizing the utility function under some conditions for two cases: concave and non-concave types. The application shows that the new approach is more efficiency and capacity than the regular one.

Keywords

Fractional calculus Fractional differential equation Fractional utility function Palm calculus 

Notes

Acknowledgements

The author would like to express her thanks to the reviewer to give very useful information and comments to improve the paper.

Compliance with ethical standards

Conflict of interest

There is no conflict of interest.

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Copyright information

© Instituto de Matemática e Estatística da Universidade de São Paulo 2019

Authors and Affiliations

  1. 1.Faculty of Computer Science and Information TechnologyUniversity MalayaKuala LumpurMalaysia

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