Year: 2020
Type: preprint
Abstract: In this paper, we study a priori estimates for a first-order mean-field planning problem with a potential. In the theory of mean-field games (MFGs), a priori estimates play a crucial role to prove the existence of classical solutions. In particular, uniform bounds for the density of players' distribution and its inverse are of utmost importance. Here, we investigate a priori bounds for those quantities for a planning problem with a non-vanishing potential. The presence of a potential raises non-trivial difficulties, which we overcome by exploring a displacement-convexity property for the mean-field planning problem with a potential together with Moser's iteration method. We show that if the potential satisfies a certain smallness condition, then a displacement-convexity property holds. This property enables $L^q$ bounds for the density. In the one-dimensional case, the displacement-convexity property also gives $L^q$ bounds for the inverse of the density. Finally, using these $L^q$ estimates and Moser's iteration method, we obtain $L^\infty$ estimates for the density of the distribution of the players and its inverse.
Source: arXiv (Cornell University)
Authors: Bakaryan, Tigran, Ferreira, Rita, Gomes, Diogo
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3010040817