Related papers: Social herding in mean field games
This paper presents an asset pricing model in an incomplete market involving a large number of heterogeneous agents based on the mean field game theory. In the model, we incorporate habit formation in consumption preferences, which has been…
Online social as an extension of traditional life plays an important role in our daily lives. Users often seek out new friends that have significant similarities such as interests and habits, motivating us to exploit such online information…
We consider the problem of representing collective behavior of large populations and predicting the evolution of a population distribution over a discrete state space. A discrete time mean field game (MFG) is motivated as an interpretable…
Until now mean-field-type game theory was not focused on cognitively-plausible models of choices in humans, animals, machines, robots, software-defined and mobile devices strategic interactions. This work presents some effects of users'…
We consider mean field games with discrete state spaces (called discrete mean field games in the following) and we analyze these games in continuous and discrete time, over finite as well as infinite time horizons. We prove the existence of…
In this paper we present results and analyses of a class of games in which heterogeneous agents are rewarded for being in a minority group. Each agent possesses a number of fixed strategies each of which are predictors of the next minority…
A new approach for the description of phenomena of social aggregation is suggested. On the basis of psychological concepts (as for instance social norms and cultural coordinates), we deduce a general mechanism for the social aggregation in…
We consider interactions between players in groups of size $d\geq2$ with payoffs that not only depend on the strategies used in the group but also fluctuate at random over time. An individual can adopt either cooperation or defection as…
In this paper we study collective decision making on a multi-population, represented by a regular network of groups of individuals. Each group consists of a collection of players and every player can choose between two options. A group is…
We consider a class of $N$-player games and mean-field games of singular controls with ergodic performance criterion, providing a benchmark case for irreversible investment games featuring mean-field interaction and strategic…
This paper considers mean field games in a multi-agent Markov decision process (MDP) framework. Each player has a continuum state and binary action, and benefits from the improvement of the condition of the overall population. Based on an…
Cooperation is fundamental to human societies, and the interaction structure among individuals profoundly shapes its emergence and evolution. In real-world scenarios, cooperation prevails in multi-group (higher-order) populations, beyond…
The classical game theory models rational players and proposes Nash equilibrium (NE) as the solution. However, real-world scenarios rarely feature rational players; instead, players make inconsistent and irrational decisions. Often,…
In this paper, we consider a mean field game model inspired by crowd motion in which several interacting populations evolving in $\mathbb R^d$ aim at reaching given target sets in minimal time. The movement of each agent is described by a…
We consider a social system of interacting heterogeneous agents with learning abilities, a model close to Random Field Ising Models, where the random field corresponds to the idiosyncratic willingness to pay. Given a fixed price, agents…
Mean-field game theory relies on approximating games that are intractable to model due to a very large to infinite population of players. While these kinds of games can be solved analytically via the associated system of partial…
This paper studies the optimal investment behavior of renewable electricity producers in a competitive market, where both prices and installation costs are influenced by aggregate industry activity. We model the resulting crowding effects…
Experiments on the ultimatum game have revealed that humans are remarkably fond of fair play. When asked to share an amount of money, unfair offers are rare and their acceptance rate small. While empathy and spatiality may lead to the…
We consider a setting where one has to organize one or several group activities for a set of agents. Each agent will participate in at most one activity, and her preferences over activities depend on the number of participants in the…
We consider the spread of infectious diseases through a Mean Field Game version of a SIR compartmental model with social structure, in which individuals are grouped by their age class and interact together in different settings. In our game…