In a linear-quadratic model with network spillovers, the continuum-limit contract approximates the finite-N optimum with error of order 1/N and remains stable to perturbations of the interaction function.
Graphon particle systems with common noise
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abstract
We study a nonlinear graphon particle system driven by both idiosyncratic and common noise, where interactions are governed by a graphon and represented as positive finite measures. Each particle evolves via a McKean-Vlasov-type SDE with graphon-weighted conditional laws. We prove a law of large numbers for the empirical and interaction measures, using generalized Wasserstein metrics and weak convergence techniques suited for the non-Markovian structure induced by common noise.
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2025 1verdicts
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Contracting a crowd of heterogeneous agents
In a linear-quadratic model with network spillovers, the continuum-limit contract approximates the finite-N optimum with error of order 1/N and remains stable to perturbations of the interaction function.