Dynamic Games with Strategic Complements and Large Number of Players

Stefanny Ramirez () and Dario Bauso ()
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Stefanny Ramirez: University of Groningen
Dario Bauso: University of Groningen

Journal of Optimization Theory and Applications, 2023, vol. 197, issue 1, No 1, 21 pages

Abstract: Abstract We study dynamic games with strategic complements where each player is modeled by a scalar flow dynamical system with a controlled input and an uncontrolled output. The model originates in inventory control problems with shared set-up costs and a large number of players. An activation cost is shared among active players, namely players who control their dynamics at a given time. As a main contribution, we prove that two-threshold strategies, like the (s, S) strategies used in inventory control, are mean-field equilibrium strategies in dynamic games with a large number of players. Furthermore, we provide conditions for the convergence of the nonstationary mean-field equilibrium to the stationary one in the limit.

Keywords: Game theory; Multi-agent systems; Network systems; Mean-field games (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10957-023-02174-8

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