Computation of Mean Field Equilibria in Economics
Lachapelle, Aimé; Salomon, Julien; Turinici, Gabriel (2010), Computation of Mean Field Equilibria in Economics, Mathematical Models and Methods in Applied Sciences, 20, 4, p. 567-588. http://dx.doi.org/10.1142/S0218202510004349
Type
Article accepté pour publication ou publiéExternal document link
http://hal.archives-ouvertes.fr/hal-00346214/en/Date
2010Journal name
Mathematical Models and Methods in Applied SciencesVolume
20Number
4Publisher
World Scientific
Pages
567-588
Publication identifier
Metadata
Show full item recordAbstract (EN)
Motivated by a mean field games stylized model for the choice of technologies (with externalities and economy of scale), we consider the associated optimization problem and prove an existence result. To complement the theoretical result, we introduce a monotonic algorithm to find the mean field equilibria. We close with some numerical results, including the multiplicity of equilibria describing the possibility of a technological transition.Subjects / Keywords
mean field games; dynamic equilibrium; externalities; monotonic algorithms; optimal control; non-convex optimizationRelated items
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