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World Scientific Publishing, Mathematical Models and Methods in Applied Sciences, 04(20), p. 567-588

DOI: 10.1142/s0218202510004349

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Computation of Mean Field Equilibria in Economics

Journal article published in 2010 by Aimé Lachapelle, Julien Salomon, Gabriel Turinici ORCID
This paper is available in a repository.
This paper is available in a repository.

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Abstract

Motivated by a mean field games stylized model for the choice of technologies (with externalities and economy of scale), we consider the associated optimization problem and prove an existence result. To complement the theoretical result, we introduce a monotonic algorithm to find the mean field equilibria. We close with some numerical results, including the multiplicity of equilibria describing the possibility of a technological transition. oui