Abstract

This paper investigates the social optimality of linear quadratic mean field control systems with unmodelled dynamics. The objective of agents is to optimise the social cost, which is the sum of costs of all agents. By variational analysis and direct decoupling methods, the social optimal control problem is analysed, and two equivalent auxiliary robust optimal control problems are obtained for a representative agent. By solving the auxiliary problem with consistent mean field approximations, a set of decentralised strategies is designed, and its asymptotic social optimality is further proved. Next, the results are applied into the study of opinion dynamics in social networks. The evolution of opinions is analysed over finite and infinite horizons, respectively. All opinions are shown to reach agreement with the average opinion in a probabilistic sense. Finally, local interactions among multiple sub-populations are examined via graphon theory.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.