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Analysis

This paper introduces a probabilistic framework for discrete-time, infinite-horizon discounted Mean Field Type Games (MFTGs), addressing the challenges of common noise and randomized actions. It establishes a connection between MFTGs and Mean Field Markov Games (MFMGs) and proves the existence of optimal closed-loop policies under specific conditions. The work is significant for advancing the theoretical understanding of MFTGs, particularly in scenarios with complex noise structures and randomized agent behaviors. The 'Mean Field Drift of Intentions' example provides a concrete application of the developed theory.
Reference

The paper proves the existence of an optimal closed-loop policy for the original MFTG when the state spaces are at most countable and the action spaces are general Polish spaces.