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A standard assumption in mean-field game (MFG) theory is that the coupling between the Hamilton–Jacobi equation and the transport equation is monotonically non-decreasing in the density of the population. In… Click to show full abstract
A standard assumption in mean-field game (MFG) theory is that the coupling between the Hamilton–Jacobi equation and the transport equation is monotonically non-decreasing in the density of the population. In many cases, this assumption implies the existence and uniqueness of solutions. Here, we drop that assumption and construct explicit solutions for one-dimensional MFGs. These solutions exhibit phenomena not present in monotonically increasing MFGs: low-regularity, non-uniqueness, and the formation of regions with no agents.
Journal Title: Dynamic Games and Applications
Year Published: 2018
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