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arXiv · 2310.02652

Ergodic Problems for Second-Order Mean Field Games with State Constraints

Alessio Porretta·Michele Ricciardi
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Abstract

We study an ergodic mean field game problem with state constraints. In our model the agents are affected by idiosyncratic noise and use a (singular) feedback control to prevent the Brownian motion from exiting the domain. We characterize the equilibrium as the (possibly unique) solution to a second-order MFG system, where the value function blows up at the boundary while the density of the players is smooth and flattens near the boundary as a consequence of the singularity of the drift induced by the feedback strategy of the agents.

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Alessio Porretta, Michele Ricciardi. 2023-10-04. Ergodic Problems for Second-Order Mean Field Games with State Constraints. https://arxiv.org/abs/2310.02652

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