Abstract:
This tutorial will survey recent progress in the use of mean field models for analysis of strategic interactions in dynamic markets. Dynamic markets can be viewed as a significant special class of dynamic stochastic games; in these games agents' actions directly affect underlying state variables that influence their payoff. Dynamic markets include sponsored search markets, online marketplaces such as eBay, and dynamic resource sharing markets (such as cloud services).

The tutorial will be self-contained and require some mathematical maturity and a background in stochastic processes, but it will not be assumed that the audience members are experts in dynamic games. A significant goal for the tutorial would be to introduce MFE to applied probabilists interested in seeing how their toolset can impact a wide range of modern large scale economic systems.