We develop a model for the evolution of wealth in a non-conservative economic environment, extending a theory developed earlier by the authors. The model considers a system of rational agents interacting in a game theoretical framework. This evolution drives the dynamic of the agents in both wealth and economic configuration variables. The cost function is chosen to represent a risk averse strategy of each agent. That is, the agent is more likely to interact with the market, the more predictable the market, and therefore the smaller its individual risk. This yields a kinetic equation for an effective single particle agent density with a Nash equilibrium serving as the local thermodynamic equilibrium. We consider a regime of scale separation where the large scale dynamics is given by a hydrodynamic closure with this local equilibrium. A class of generalized collision invariants (GCIs) is developed to overcome the difficulty of the non-conservative property in the hydrodynamic closure derivation of the large scale dynamics for the evolution of wealth distribution. The result is a system of gas dynamics-type equations for the density and average wealth of the agents on large scales. We recover the inverse Gamma distribution, which has been previously considered in the literature, as a local equilibrium for particular choices of the cost function.

We study chiral algebras associated with Argyres-Douglas theories engineered from M5 brane. For the theory engineered using 6d (2,0) type J theory on a sphere with a single irregular singularity (without mass parameter), its chiral algebra is the minimal model of W algebra of J type. For the theory engineered using an irregular singularity and a regular full singularity, its chiral algebra is the affine Kac-Moody algebra of J type. We can obtain the Schur index of these theories by computing the vacua character of the corresponding chiral algebra.

We use Coulomb branch indices of Argyres-Douglas theories on S1×L(k,1) to quantize moduli spaces H of wild/irregular Hitchin systems. In particular, we obtain formulae for the "wild Hitchin characters" -- the graded dimensions of the Hilbert spaces from quantization -- for four infinite families of H, giving access to many interesting geometric and topological data of these moduli spaces. We observe that the wild Hitchin characters can always be written as a sum over fixed points in H under the U(1) Hitchin action, and a limit of them can be identified with matrix elements of the modular transform STkS in certain two-dimensional chiral algebras. Although naturally fitting into the geometric Langlands program, the appearance of chiral algebras, which was known previously to be associated with Schur operators but not Coulomb branch operators, is somewhat surprising.

Nonlinear hyperbolic systems with relaxations may encounter different scales of relaxation time, which is a prototype multiscale phenomenon that arises in many applications. In such a problem the relaxation time is of O(1) in part of the domain and very small in the remaining domain in which the solution can be approximated by the zero relaxation limit which can be solved numerically much more efficiently. For the Jin–Xin relaxation system in such a two-scale setting, we establish its wellposedness and singular limit as the (smaller) relaxation time goes to zero. The limit is a multiscale coupling problem which couples the original Jin–Xin system on the domain when the relaxation time is O(1) with its relaxation limit in the other domain through interface conditions which can be derived by matched interface layer analysis.As a result, we also establish the well-posedness and regularity (such as boundedness in sup norm with bounded total variation and L 1-contraction) of the coupling problem, thus providing a rigorous mathematical foundation, in the general nonlinear setting, to the multiscale domain decomposition method for this two-scale problem originally proposed in Jin et al. in Math. Comp. 82, 749–779, 2013.

This paper proves the nonlinear asymptotic stability of the Lane-Emden solutions for spherically symmetric motions of viscous gaseous stars if the adiabatic constant γ lies in the stability range (4/3, 2). It is shown that for small perturbations of a LaneEmden solution with same mass, there exists a unique global (in time) strong solution to the vacuum free boundary problem of the compressible Navier-Stokes-Poisson system with spherical symmetry for viscous stars, and the solution captures the precise physical behavior that the sound speed is C 1/2 -H¨older continuous across the vacuum boundary provided that γ lies in (4/3, 2). The key is to establish the global-in-time regularity uniformly up to the vacuum boundary, which ensures the large time asymptotic uniform convergence of the evolving vacuum boundary, density and velocity to those of the Lane-Emden solution with detailed convergence rates, and detailed large time behaviors of solutions near the vacuum boundary. In particular, it is shown that every spherical surface moving with the fluid converges to the sphere enclosing the same mass inside the domain of the Lane-Emden solution with a uniform convergence rate and the large time asymptotic states for the vacuum free boundary problem (1.1.2) are determined by the initial mass distribution and the total mass. To overcome the difficulty caused by the degeneracy and singular behavior near the vacuum free boundary and coordinates singularity at the symmetry center, the main ingredients of the analysis consist of combinations of some new weighted nonlinear functionals (involving both lower-order and higher-order derivatives) and space-time weighted energy estimates. The constructions of these weighted nonlinear functionals and space-time weights depend crucially on the structures of the Lane-Emden solution, the balance of pressure and gravitation, and the dissipation. Finally, the uniform boundedness of the acceleration of the vacuum boundary is also proved.