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In "Pedigree," too, the father is called Désiré, and, like the real one, is a minor agent in an insurance company.
Besides the state of the major agent, each minor agent can only access to the information of its state and parameters.
Next, as suggested by (ii-b), the given minor agent will solve some optimal control problem with augmented state: its own state, state-average limit, optimal state of major agent from (ii-a), which is a BFSDE.
Each minor agent merely has tiny influence, while the average effect of all the minor agents is not negligible, which plays a significant role in the evolution and performance index of each agent.
The minor agent's optimal control should involve some feedback of this augmented state.
Wind is a minor agent of erosion here.
Similar(50)
For minor agents, we have.
The major agent is dominating as its state enters those of minor agents.
Moreover, the major and minor agents are further coupled via the state-average.
First, as addressed in (Step i), the state-average limit of minor agents will be frozen.
This paper studies the backward-forward linear-quadratic-Gaussian (LQG) games with major and minor agents (players).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com