Group for Research in Decision Analysis

Linear-quadratic mean field games with a major player: Nash certainty equivalence versus master equations

Minyi Huang Full Professor, School of Mathematics and Statistics, Carleton University, Canada

Minyi Huang

Webinar link
Meeting ID: 910 7928 6959
Passcode: VISS

Mean field games with a major player were introduced in (Huang, 2010) within a linear-quadratic (LQ) modeling framework. Due to the rich structure of major-minor player models, the past ten years have seen significant research efforts for different solution notions and analytical techniques. For LQ models, we address the relation between three solution frameworks: the Nash certainty equivalence (NCE) approach in (Huang, 2010), master equations, and asymptotic solvability, which have been developed starting with different ideas. We establish their equivalence relationships.