“Phase diagram” of a mean field game

Igor Swiecicki, Thierry Gobron and Denis Ullmo

Physica A: Statistical Mechanics and its Applications, 2016, vol. 442, issue C, 467-485

Abstract: Mean field games were introduced by J-M. Lasry and P-L. Lions in the mathematical community, and independently by M. Huang and co-workers in the engineering community, to deal with optimization problems when the number of agents becomes very large. In this article we study in detail a particular example called the “seminar problem” introduced by O. Guéant, J-M. Lasry, and P-L. Lions in 2010. This model contains the main ingredients of any mean field game but has the particular feature that all agents are coupled only through a simple random event (the seminar starting time) that they all contribute to form. In the mean field limit, this event becomes deterministic and its value can be fixed through a self consistent procedure. This allows for a rather thorough understanding of the solutions of the problem, through both exact results and a detailed analysis of various limiting regimes. For a sensible class of initial configurations, distinct behaviors can be associated to different domains in the parameter space. For this reason, the “seminar problem” appears to be an interesting toy model on which both intuition and technical approaches can be tested as a preliminary study toward more complex mean field game models.

Keywords: Mean field games (search for similar items in EconPapers)
Date: 2016
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:442:y:2016:i:c:p:467-485

DOI: 10.1016/j.physa.2015.09.018

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