Approximating Nash equilibrium for production control with sticky price

نویسندگان

چکیده

We study a mean field game problem arising from the production control for multiple firms with price stickiness in commodity market. The dynamics each firm is described as (controlled) jump-diffusion process mean-field interaction. Each aims to maximize her expectation of cumulative net profit coupled other through processes. By solving limiting and fixed-point problem, we construct an explicit approximating Nash equilibrium when number grows large.

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ژورنال

عنوان ژورنال: Operations Research Letters

سال: 2022

ISSN: ['0167-6377', '1872-7468']

DOI: https://doi.org/10.1016/j.orl.2022.04.006