Mean field games for production output adjustment with noisy sticky prices

Wang, Bingchang; Huang, Minyi

doi:10.1109/CCDC.2018.8407672

This paper investigates mean field games for dynamic production competition. We first introduce a market of many firms with the sticky price and adjustment costs, where the price is disturbed by a Wiener process. By solving forward-backward stochastic differential equations subject to consistent mean field approximations, a set of decentralized strategies is obtained and further shown to be an e-Nash equilibrium.

Additional Metadata
Keywords	Mean field game, Nash equilibrium, noisy sticky price, production output adjustment
Persistent URL	doi.org/10.1109/CCDC.2018.8407672
Conference	30th Chinese Control and Decision Conference, CCDC 2018
Organisation	School of Mathematics and Statistics
Citation APA Style AAA Style APA Style Cell Style Chicago Style Harvard Style IEEE Style MLA Style Nature Style Vancouver Style American-Institute-of-Physics Style Council-of-Science-Editors Style BibTex Format Endnote Format RIS Format CSL Format DOIs only Format	Wang, B. (Bingchang), & Huang, M. (2018). Mean field games for production output adjustment with noisy sticky prices. In Proceedings of the 30th Chinese Control and Decision Conference, CCDC 2018 (pp. 3185–3190). doi:10.1109/CCDC.2018.8407672

Mean field games for production output adjustment with noisy sticky prices

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Mean field games for production output adjustment with noisy sticky prices

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