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Comparing the best-reply strategy and mean-field games : the stationary case
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Barker, Matt, Degond, Pierre and Wolfram, Marie-Therese (2022) Comparing the best-reply strategy and mean-field games : the stationary case. European Journal of Applied Mathematics, 33 (1). pp. 79-110. doi:10.1017/S0956792520000376 ISSN 0956-7925.
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WRAP-Comparing-best-reply-strategy-mean-field-games-stationary-case-2021.pdf - Accepted Version - Requires a PDF viewer. Available under License Creative Commons Attribution Non-commercial No Derivatives 4.0. Download (3678Kb) | Preview |
Official URL: https://doi.org/10.1017/S0956792520000376
Abstract
Mean-field games (MFGs) and the best-reply strategy (BRS) are two methods of describing competitive optimisation of systems of interacting agents. The latter can be interpreted as an approximation of the respective MFG system. In this paper, we present an analysis and comparison of the two approaches in the stationary case. We provide novel existence and uniqueness results for the stationary boundary value problems related to the MFG and BRS formulations, and we present an analytical and numerical comparison of the two paradigms in some specific modelling situations.
Item Type: | Journal Article | |||||||||||||||||||||||||||
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Subjects: | Q Science > QA Mathematics | |||||||||||||||||||||||||||
Divisions: | Faculty of Science, Engineering and Medicine > Science > Mathematics | |||||||||||||||||||||||||||
Library of Congress Subject Headings (LCSH): | Mean field theory , Game theory, Fokker-Planck equation | |||||||||||||||||||||||||||
Journal or Publication Title: | European Journal of Applied Mathematics | |||||||||||||||||||||||||||
Publisher: | Cambridge University Press | |||||||||||||||||||||||||||
ISSN: | 0956-7925 | |||||||||||||||||||||||||||
Official Date: | February 2022 | |||||||||||||||||||||||||||
Dates: |
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Volume: | 33 | |||||||||||||||||||||||||||
Number: | 1 | |||||||||||||||||||||||||||
Page Range: | pp. 79-110 | |||||||||||||||||||||||||||
DOI: | 10.1017/S0956792520000376 | |||||||||||||||||||||||||||
Status: | Peer Reviewed | |||||||||||||||||||||||||||
Publication Status: | Published | |||||||||||||||||||||||||||
Reuse Statement (publisher, data, author rights): | This article has been published in a revised form in European Journal of Applied Mathematics [http://doi.org/10.1017/S0956792520000376. This version is free to view and download for private research and study only. Not for re-distribution, re-sale or use in derivative works. © copyright holder. | |||||||||||||||||||||||||||
Access rights to Published version: | Restricted or Subscription Access | |||||||||||||||||||||||||||
Copyright Holders: | © The Author(s), 2020. Published by Cambridge University Press | |||||||||||||||||||||||||||
Date of first compliant deposit: | 19 July 2021 | |||||||||||||||||||||||||||
Date of first compliant Open Access: | 19 July 2021 | |||||||||||||||||||||||||||
RIOXX Funder/Project Grant: |
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