Group for Research in Decision Analysis

# Mean Field Games and Applications

## Wei Yang – University of Strathclyde Glasgow, United Kingdom

In a system of large number interacting agents who may have competitive or common interests, the complexity of the analysis can become immense as the number of agents $$N$$ tends to in nity. Mean field games method was designed to tackle this kind of problems. We present mean field games methodology in a general setting with arbitrary underlying Markov processes of interactions. Then we justify the mean field games as a proper approximation of large population systems with $$1=N$$ convergence rate. Finally, applications of this method are presented. This is a joint work with Vassili Kolokoltsov.