Bank deposit rate competition is cast as a major-minor mean-field game with impulse adjustment costs, and a deep Q-network with fictitious play yields low-rate strategies in simulation.
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Deciding Bank Interest Rates -- A Major-Minor Impulse Control Mean-Field Game Perspective
Bank deposit rate competition is cast as a major-minor mean-field game with impulse adjustment costs, and a deep Q-network with fictitious play yields low-rate strategies in simulation.