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Necessary and Sufficient Near‐Optimal Conditions for Mean‐Field Singular Stochastic Controls
Authors:Ruijing Li  Bin Liu
Abstract:We consider the near‐optimal control problems for mean‐field singular stochastic systems, where the control domain is non‐convex. By virtue of Ekeland's principle and some estimates on the state and adjoint processes, necessary and sufficient conditions for near‐optimality are established in the mean‐field framework. As an application, an example is presented to demonstrate the results.
Keywords:Stochastic near‐optimal control  singular control  mean‐field SDE  adjoint equation  Ekeland's principle
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