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Discrete-Time Ergodic Mean-Field Games with Average Reward on Compact Spaces

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  • Piotr Więcek

    (Wrocław University of Science and Technology)

Abstract

We present a model of discrete-time mean-field game with compact state and action spaces and average reward. Under some strong ergodicity assumption, we show it possesses a stationary mean-field equilibrium. We present an example showing that in general an equilibrium for this game may not be a good approximation of Nash equilibria of the n-person stochastic game counterparts of the mean-field game for large n. Finally, we identify two cases when the approximation is good.

Suggested Citation

  • Piotr Więcek, 2020. "Discrete-Time Ergodic Mean-Field Games with Average Reward on Compact Spaces," Dynamic Games and Applications, Springer, vol. 10(1), pages 222-256, March.
    • Handle: RePEc:spr:dyngam:v:10:y:2020:i:1:d:10.1007_s13235-019-00296-1
    DOI: 10.1007/s13235-019-00296-1
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    References listed on IDEAS

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