Applications of large dynamic games to modelling markets and exploitation of ecosystems

Prelegent(ci)

Agnieszka Wiszniewska-Matyszkiel

Afiliacja

Uniwersytet Warszawski

Termin

27 lutego 2013 16:15

Pokój

p. 5820

Seminarium

Seminarium Zakładu Biomatematyki i Teorii Gier

---

I'm going to present my results on large games -- mainly games with a continuum of players and their economic applications. Games with a continuum of players may be regarded as an equivalent of continuum -- microscale models of physics. They were developed to model situation in which the number of interacting agents, called players (human beings, animals or even particles),is large enough to make the influence of a single player on some global variables negligible.

The main theoretical results from the point of view of mathematics, are various decomposition theorems allowing to simplify the procedure of finding an equilibrium in dynamic games: the original problem, joining dynamic optimization and fixed point procedure in a space of functions is reduced to a sequence of static optimization and fixed point procedures applied to static, one stage problems, coupled by some reccurential or differential equation.

I will also present economic applications of such games to exploitation of a common ecosystem and to modelling financial markets, mainly stock exchange.

---