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Stationary discounted and ergodic mean field games of singular control / Haoyang Cao, Jodi Dianetti, and Giorgio Ferrari
VerfasserCao, Haoyang ; Dianetti, Jodi ; Ferrari, Giorgio
ErschienenBielefeld, Germany : Center for Mathematical Economics (IMW), Bielefeld University, May 2021
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Elektronische Ressource
Umfang1 Online-Ressource (28 Seiten) : Diagramme
SerieCenter for Mathematical Economics Working papers ; 650
SchlagwörterSpieltheorie / Mean-Field-Theorie / Nash-Gleichgewicht
URNurn:nbn:de:hbz:6:2-1518400 
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Stationary discounted and ergodic mean field games of singular control [2.2 mb]
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We study stationary mean eld games with singular controls in which the representative player interacts with a long-time weighted average of the population through a discounted and an ergodic performance criterion. This class of games nds natural applications in the context of optimal productivity expansion in dynamic oligopolies. We prove existence and uniqueness of the mean eld equilibria, which are completely characterized through nonlinear equations. Furthermore, we relate the mean eld equilibria for the discounted and the ergodic games by showing the validity of an Abelian limit. The latter allows also to approximate Nash equilibria of

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