Applications of Mean Field Games in financial engineering and economic theory

Socio-economic applications of finite state mean field games.

In this paper, we present different applications of finite state mean field games to socio-economic sciences. Examples include paradigm shifts in the scientific community or consumer choice behaviour in the free market. The corresponding finite state mean field game models are hyperbolic systems of partial differential equations, for which we present and validate different numerical methods. We...

Mean field games and applications

Mean-Field-Type Games in Engineering

With the ever increasing amounts of data becoming available, strategic data analysis and decision-making will become more pervasive as a necessary ingredient for societal infrastructures. In many network engineering games, the performance metrics depend on some few aggregates of the parameters/choices. One typical example is the congestion field in traffic engineering where classical cars and s...

A review on symmetric games: theory, comparison and applications

Game theory models decision makers' behaviors in strategic situations. Since the structures of games are different, behavior and preferences of the players are different in various types of game. This paper reviews various situations of games. Here, characteristics of some common games are discussed and compared. Specifically, we focus on a group of games called symmetric games including Prison...

Financial Engineering and Economic Development∗

In countries with well functioning credit markets, increases in financial activity often take the form of financial engineering. We use a structural framework to characterize and quantify the connection between financial engineering activities and economic development. In our model, producers split the stochastic cash flows they generate to create securities that appeal to investors with hetero...