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arxiv: 1905.04793 · v1 · pith:5AWCPVTMnew · submitted 2019-05-12 · 🧮 math.OC

Mean-field FBSDE and optimal control

classification 🧮 math.OC
keywords mean-fieldoptimalcontrolstochasticbackwardconditionsderiveddifferential
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We study optimal control for mean-field forward backward stochastic differential equations with payoff functionals of mean-field type. Sufficient and necessary optimality conditions in terms of a stochastic maximum principle are derived. As an illustration, we solve an optimal portfolio with mean-field risk minimization problem.

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