Browsing by Author "Yuksel, Serdar"

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    Large decentralized continuous-time convex stochastic teams and their mean-field limits
    (Institute of Electrical and Electronics Engineers Inc., 2024-07-12) Sanjari, Sina; Saldı, Naci; Yuksel, Serdar
    We study a class of continuous-time convex stochastic exchangeable teams with a finite number of decision makers (DMs) as well as their mean-field limits with infinite numbers of DMs. We establish the existence of a globally optimal solution and show that it is Markovian and symmetric (identical) for both the finite DM regime and the infinite one. In particular, for a general class of finite-N exchangeable stochastic teams satisfying a convexity condition, we establish the existence of a globally optimal solution that is symmetric among DMs and Markovian. As the number of DMs drives to infinity (that is for the mean-field limit), we establish the existence of a possibly randomized globally optimal solution and show that it is symmetric among DMs and Markovian.