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A kinetic theory view of mean field games and applications to economics

Presented by: 
P Degond Imperial College London
Wednesday 8th October 2014 - 11:00 to 11:30
INI Seminar Room 1
Session Title: 
Mini Workshop on Kinetic Models and Mean Field Games in Finance
We develop a kinetic theory framework for a games with a continuum of players where Nash equilibria play the role of thermodynamic equilibria. We discuss its connections with mean-field games. We consider the situation of time-scale separation where the slow evolution of the system is driven by the fast relaxation to Nash equilibria and apply it to a model of non-conservative economies.
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University of Cambridge Research Councils UK
    Clay Mathematics Institute London Mathematical Society NM Rothschild and Sons