Nonasymptotic mean-field games

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Mean-field games have been studied under the assumption of very large number of players. For such large systems, the basic idea consists to approximate large games by a stylized game model with a continuum of players. The approach has been shown to be useful in some applications. However, the stylized game model with continuum of decision-makers is rarely observed in practice and the approximation proposed in the asymptotic regime is meaningless for networked systems with few entities. In this paper we propose a mean-field framework that is suitable not only for large systems but also for a small world with few number of entities. The applicability of the proposed framework is illustrated through a dynamic auction with asymmetric valuation distributions.

Original languageEnglish (US)
Title of host publication19th IFAC World Congress IFAC 2014, Proceedings
EditorsXiaohua Xia, Edward Boje
PublisherIFAC Secretariat
Pages8989-8994
Number of pages6
ISBN (Electronic)9783902823625
StatePublished - Jan 1 2014
Event19th IFAC World Congress on International Federation of Automatic Control, IFAC 2014 - Cape Town, South Africa
Duration: Aug 24 2014Aug 29 2014

Publication series

NameIFAC Proceedings Volumes (IFAC-PapersOnline)
Volume19
ISSN (Print)1474-6670

Other

Other19th IFAC World Congress on International Federation of Automatic Control, IFAC 2014
CountrySouth Africa
CityCape Town
Period8/24/148/29/14

Keywords

  • Game theory
  • Mean-field
  • Non-asymptotic

ASJC Scopus subject areas

  • Control and Systems Engineering

Cite this

Tembine, H. (2014). Nonasymptotic mean-field games. In X. Xia, & E. Boje (Eds.), 19th IFAC World Congress IFAC 2014, Proceedings (pp. 8989-8994). (IFAC Proceedings Volumes (IFAC-PapersOnline); Vol. 19). IFAC Secretariat.