Large-scale dynamics of mean-field games driven by local nash equilibria

Pierre Degond, Jian Guo Liu, Christian Ringhofer

Research output: Contribution to journalArticle

27 Scopus citations

Abstract

We introduce a new mean field kinetic model for systems of rational agents interacting in a game-theoretical framework. This model is inspired from noncooperative anonymous games with a continuum of players and Mean-Field Games. The large time behavior of the system is given by a macroscopic closure with a Nash equilibrium serving as the local thermodynamic equilibrium. An application of the presented theory to a social model (herding behavior) is discussed.

Original languageEnglish (US)
Pages (from-to)93-115
Number of pages23
JournalJournal of Nonlinear Science
Volume24
Issue number1
DOIs
StatePublished - Feb 2014

Keywords

  • Best-reply scheme
  • Coarse graining procedure
  • Continuum of players
  • Kinetic theory
  • Local Nash equilibrium
  • Macroscopic closure
  • Non-cooperative non-atomic anonymous games
  • Potential games
  • Rational agent
  • Social herding behavior

ASJC Scopus subject areas

  • Modeling and Simulation
  • Engineering(all)
  • Applied Mathematics

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