Applications of Mean Field Games in financial engineering and economic theorydoi:10.1090/PSAPM/078/05René CarmonaAmerican Mathematical SocietyProceedings of Symposia in Applied Mathematics
Exhibiting real-world problems with major and minor agents, this monograph presents a systematic continuous-space approximation approach for mean-field interacting agents models and mean-field games models for application in industries such as operations
Federico,Echenique,and,... - 《Journal of Economic Theory》 被引量: 95发表: 2004年 New directions in the economic theory of the environment: Non-cooperative models of coalition formation in games with spillovers In games with strict strategic complementarities, properly mixed Nash equilibria—equili...
Regarding the choice of political systems, modern China has tried various models such as constitutional monarchy, a parliamentary system, a multi-party system, and a presidential government, but they all ended in failure. In September 1949, when the birth of New China was in sight, the First ...
Formal theoretical models propose that cooperative networks can be maintained when individuals condition behavior on social standing. Here, we empirically examine the predictions of such models of positive and negative indirect reciprocity using a suite of network-structured economic games in four rural Co...
Table 2 Performance of the models – coefficient of determination R2, root mean square error (RMSE) and mean error (ME)– on the test (hold out) set obtained with bootstrapping using Linear Regression (LR), Random Forest (RF), and Gradient Boosting Machine (GBM) ...
Decentralized Information Processing in the Theory of Organizations Although models with bounded rationality 鈥 defined broadly to mean those in which agent behaviour departs from the paradigm of effortless full rationality 鈥 are appearing in every field of economics, only in the theory of organizations...
while it leaves labor productivity roughly constant. Using a model-based decomposition, as well as comparisons with alternative simplified models, we show that modeling workers’ participation decisions, job-to-job transitions, and endogenous separations together is crucial for a complete and accurate an...
using a random matching protocol is perhaps the most widely studied experimental setting and has served as a basic building block for a number of models in evolutionary biology and game theory7,25,26,27. Fig. 1 Lesion reconstruction and task schematic.aStructural MRI slices illustrating the ...
Both issues stem from the same root cause: the provision of fixed and mobile broadband relies on costly networks and creates markets contested by only a few large operators with near identical business models. These economics result in high prices and ...