Dynamic Production Output Adjustment with Sticky Prices: A Mean Field Game Approach

被引：0
|
作者：
Wang, Bingchang [1 ,2 ]
Huang, Minyi [2 ]
机构：
[1] Shandong Univ, Sch Control Sci & Engn, Jinan 250061, Peoples R China
[2] Carleton Univ, Sch Math & Stat, Ottawa, ON K1S 5B6, Canada
来源：
2015 54TH IEEE CONFERENCE ON DECISION AND CONTROL (CDC) | 2015年
关键词：
MULTIAGENT SYSTEMS; EQUILIBRIA; DUOPOLY; CONSTRAINTS; PARAMETERS; PLAYERS; AGENTS; COSTS;
D O I：
暂无
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
This paper presents an application of mean field games to dynamic production competition. We first introduce a market of a large number of agents (firms) with sticky prices and adjustment costs. The cost functional of each agent has indefinite state weights. By solving a limiting optimal control problem subject to consistent mean field approximations, a set of decentralized strategies is obtained and further shown to be an epsilon-Nash equilibrium.
引用
收藏
页码：4438 / 4443
页数：6
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