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2010
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- handle: 10670/1.jtf7m5
- hal: hal-01393104
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Mean field gamesSujets proches
Amusements Children--Recreation Games for children Pastimes Primitive games Recreations Games, Primitive Children's games Pattern ModelCiter ce document
Olivier Guéant et al., « Mean Field Games and Oil Production », HAL-SHS : économie et finance, ID : 10670/1.jtf7m5
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In this paper we study the evolution of oil production in the long run. A first optimization model is presented, that can be solved using Euler-Lagrange tools. Because these classical tools are not the best suited to the model, we adopt a mean field games approach based on two partial differential equations. An extended model is then presented to analyze the influence of new competitors which might enter the market with energy from renewable sources. The usefulness of a subsidy to potential entrants is discussed.