Georgia Institute of Technology College of Sciences

 In this talk we study master equations arising from mean field game 
problems, under the crucial monotonicity conditions.
Classical solutions of such equations require very strong technical 
conditions. Moreover, unlike the master equations arising from mean 
field control problems, the mean field game master equations are 
non-local and even classical solutions typically do not satisfy the 
comparison principle, so the standard viscosity solution approach seems 
infeasible. We shall propose a notion of weak solution for such 
equations and establish its wellposedness. Our approach relies on a new 
smooth mollifier for functions of measures, which unfortunately does not 
keep the monotonicity property, and the stability result of master 
equations. The talk is based on a joint work with Jianfeng Zhang.