Mean-Field Competition in Inventory Management - Dynamic Pricing Strategies

Explore dynamic inventory management with mean-field competition in this SIAM Activity Group on FME Virtual Talk Series presentation. Delve into a model where agents maximize profits by selling perishable products, considering competitive influences from their own and other market agents' quoted prices. Analyze the mean-field limit as the number of agents increases, and examine the mean-field Nash equilibrium based on Hamilton-Jacobi-Bellman equation solutions and consistency conditions. Discover an innovative iterative numerical algorithm for computing equilibrium, and investigate equilibrium pricing strategies and market dynamics. Gain insights into how competitive interaction strength and product overselling capacity impact these dynamics.