Maximizing Social Welfare and Agreement Via Information Design in Linear-Quadratic-Gaussian Games

Maximizing social welfare in congestion games via redistribution

It is well-known that efficient use of congestible resources can be achieved via marginal pricing; however, payments collected from the agents generate a budget surplus, which reduces social welfare. We show that an asymptotically first-best solution in the number of agents can be achieved by the appropriate redistribution of the budget surplus back to the agents.

Information sharing networks in linear quadratic games

Francesco Feri Royal Holloway, University of London. SUMMARY We study the bilateral exchange of information in the context of linear quadratic games. An information structure is here represented by a non directed network, whose nodes are agents and whose links represent sharing agreements. We first study the equilibrium use of information in any given sharing network, finding that the extent to...

Linear-Quadratic-Gaussian Mixed Games with Continuum-Parametrized Minor Players

Abstract. We consider a mean field linear-quadratic-Gaussian game with a major player and a large number of minor players parametrized by a continuum set. The mean field generated by the minor players is approximated by a random process depending only on the initial state and the Brownian motion of the major player, and this leads to two limiting optimal control problems with random coefficient...

Quadratic Social Welfare Functions

Design of Linear Quadratic Gaussian Controller for Sample Power System

Most of the industrial processes are multivariable in nature. Designing controller for the Multi Input Multi Output (MIMO) process is difficult because of the changes in process dynamics and interaction between process variables. The objective of the current study presented in this paper is to design a multivariable Linear Quadratic Gaussian (LQG) Controller for a sample controlled hydropower s...