arXiv · 2111.07020
Master Equation for Cournot Mean Field Games of Control with Absorption
Abstract
We establish the existence and uniqueness of a solution to the master equation for a mean field game of controls with absorption. The mean field game arises as a continuum limit of a dynamic game of exhaustible resources modeling Cournot competition between producers. The proof relies on an analysis of a forward-backward system of nonlocal Hamilton-Jacobi/Fokker-Planck equations with Dirichlet boundary conditions. In particular, we establish new a priori estimates to prove that solutions are differentiable with respect to the initial measure.
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P. Jameson Graber, Ronnie Sircar. 2021-11-13. Master Equation for Cournot Mean Field Games of Control with Absorption. https://arxiv.org/abs/2111.07020
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