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Traveling waves for a nonlocal KPP equation and mean-field game models of knowledge diffusion

Traveling waves for a nonlocal KPP equation and mean-field game models of knowledge diffusion

We analyze a mean-field game model proposed by economists Lucas and Moll [J. Political Econ. 122 (2014)] to describe economic systems where production is based on knowledge growth and diffusion. This model reduces to a PDE system where a backward Hamilton–Jacobi– Bellman equation is coupled with a forward KPP-type equation …