Calibration of Shared Equilibria in General Sum Partially Observable Markov Games
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Abstract (arXiv)
Training multi-agent systems (MAS) to achieve realistic equilibria gives us a useful tool to understand and model real-world systems. We consider a general sum partially observable Markov game where agents of different types share a single policy network, conditioned on agent-specific information. This paper aims at i) formally understanding equilibria reached by such agents, and ii) matching emergent phenomena of such equilibria to real-world targets. Parameter sharing with decentralized execution has been introduced as an efficient way to train multiple agents using a single policy network. However, the nature of resulting equilibria reached by such agents has not been yet studied: we introduce the novel concept of Shared equilibrium as a symmetric pure Nash equilibrium of a certain Functional Form Game (FFG) and prove convergence to the latter for a certain class of games using self-play. In addition, it is important that such equilibria satisfy certain constraints so that MAS are calibrated to real world data for practical use: we solve this problem by introducing a novel dual-Reinforcement Learning based approach that fits emergent behaviors of agents in a Shared equilibrium to externally-specified targets, and apply our methods to a n-player market example. We do so by calibrating parameters governing distributions of agent types rather than individual agents, which allows both behavior differentiation among agents and coherent scaling of the shared policy network to multiple agents.
Key facts. Cited by 12 papers in the map (data through 7 Oct 2026). First posted on arXiv 23 Jun 2020.
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Citing papers per year: 2021: 4; 2022: 4; 2023: 0; 2024: 2; 2025: 2.
12 papers.
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- 2022Towards Multi-Agent Reinforcement Learning driven Over-The-Counter Market Simulationscited by 10
- 2021Learning to Coordinate in Multi-Agent Systems: A Coordinated Actor-Critic Algorithm and Finite-Time Guaranteescited by 6
- 2022Phantom -- A RL-driven multi-agent framework to model complex systemscited by 5
- 2025ADAGE: A generic two-layer framework for adaptive agent based modellingcited by 4
- 2024Learning and Calibrating Heterogeneous Bounded Rational Market Behaviour with Multi-Agent Reinforcement Learningcited by 2
- 2025Learning in Stackelberg Mean Field Games: A Non-Asymptotic Analysiscited by 1
- 2022Calibration of Derivative Pricing Models: a Multi-Agent Reinforcement Learning Perspectivecited by 0
- 2024Simulate and Optimise: A two-layer mortgage simulator for designing novel mortgage assistance productscited by 0
- 2025Learning in Stackelberg Mean Field Games: A Non-Asymptotic Analysis18 Sep 2025
- 2025ADAGE: A generic two-layer framework for adaptive agent based modelling16 Jan 2025
- 2024Simulate and Optimise: A two-layer mortgage simulator for designing novel mortgage assistance products1 Nov 2024
- 2024Learning and Calibrating Heterogeneous Bounded Rational Market Behaviour with Multi-Agent Reinforcement Learning1 Feb 2024
- 2022Towards Multi-Agent Reinforcement Learning driven Over-The-Counter Market Simulations13 Oct 2022
- 2022Phantom -- A RL-driven multi-agent framework to model complex systems12 Oct 2022
- 2022Oracle-free Reinforcement Learning in Mean-Field Games along a Single Sample Path24 Aug 2022
- 2022Calibration of Derivative Pricing Models: a Multi-Agent Reinforcement Learning Perspective14 Mar 2022
- 2021Towards a fully RL-based Market Simulator13 Oct 2021
- 2021Learning to Coordinate in Multi-Agent Systems: A Coordinated Actor-Critic Algorithm and Finite-Time Guarantees11 Oct 2021
- 2021Mean-Field Multi-Agent Reinforcement Learning: A Decentralized Network Approach5 Aug 2021
- 2021Learning to Optimize: A Primer and A Benchmark23 Mar 2021