Dr. Sachin Adlakha (Caltech)

Title: Mean Field Equilibria in Large Scale Stochastic Games

Abstract:We study stochastic games with many interacting players. In contrast to studying Markov perfect equilibrium (MPE), we consider mean field equilibrium (MFE), where players’ strategies depend only on the long runaverage state of their competitors. We study the conditions under which MFE exists and show that the same conditions ensure that MFE is a good
approximation to MPE in large games. The conditions we propose amount to a dichotomy between decreasing and increasing return to larger states.