Date Added: Jul 2011
A key question in the design of engineered competitive systems has been that of the efficiency of the associated equilibria. Yet, there is little known in this regard in the context of stochastic dynamic games in a large population regime. In this paper, the authors revisit a class of non-cooperative games, arising from the synchronization of a large collection of homogeneous oscillators. In, they derived a PDE model for analyzing the associated equilibria in large population regimes through a mean field approximation. Here, they examine the efficiency of the associated mean-field equilibria with respect to a related welfare optimization problem.