On the (in)efficiency of MFG equilibria
Résumé
Mean field games (MFG) are dynamic games with infinitely many infinitesimal agents. In this context, we study the efficiency of Nash MFG equilibria: Namely, we compare the social cost of a MFG equilibrium with the minimal cost a global planner can achieve. We find a structure condition on the game under which there exists efficient MFG equilibria and, in case this condition is not fulfilled, quantify how inefficient MFG equilibria are.
Domaines
Optimisation et contrôle [math.OC]| Origine | Fichiers produits par l'(les) auteur(s) |
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