Mean Field Games on Prosumers

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In the realm of dynamic demand, prosumers are agents that can produce and consume goods. In this paper, we study a large population of prosumers and the strategy of each prosumer depends on the average behavior of the population. Every prosumer optimizes his own objective function and we formulate the problem as a first order mean field game. We study the corresponding linear quadratic optimal control problem, which gives us a mean field equilibrium. Finally, a connection to the Bass model is studied. A numerical experiment covering our findings concludes the paper.

Originele taal-2English
TitelProceedings of the Conference on Decision and Control 2019
UitgeverijIEEE
Pagina's311-316
Aantal pagina's6
ISBN van elektronische versie9781728113982
ISBN van geprinte versie978-1-7281-1398-2
DOI's
StatusPublished - dec-2019
Evenement58th Conference on Decision and Control (CDC2019) - Nice, France
Duur: 11-dec-201913-dec-2019

Publicatie series

NaamProceedings of the IEEE Conference on Decision and Control
Volume2019-December
ISSN van geprinte versie0743-1546

Conference

Conference58th Conference on Decision and Control (CDC2019)
Land/RegioFrance
StadNice
Periode11/12/201913/12/2019

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