# American Institute of Mathematical Sciences

September  2015, 5(3): 501-516. doi: 10.3934/mcrf.2015.5.501

## Controlled reflected mean-field backward stochastic differential equations coupled with value function and related PDEs

 1 School of Mathematics and Statistics, Shandong University, Weihai, Weihai, 264209, China, China

Received  February 2014 Revised  February 2015 Published  July 2015

In this paper, we consider a new type of reflected mean-field backward stochastic differential equations (reflected MFBSDEs, for short), namely, controlled reflected MFBSDEs involving their value function. The existence and the uniqueness of the solution of such equation are proved by using an approximation method. We also adapt this method to give a comparison theorem for our reflected MFBSDEs. The related dynamic programming principle is obtained by extending the approach of stochastic backward semigroups introduced by Peng [11] in 1997. Finally, we show that the value function which our reflected MFBSDE is coupled with is the unique viscosity solution of the related nonlocal parabolic partial differential equation with obstacle.
Citation: Juan Li, Wenqiang Li. Controlled reflected mean-field backward stochastic differential equations coupled with value function and related PDEs. Mathematical Control & Related Fields, 2015, 5 (3) : 501-516. doi: 10.3934/mcrf.2015.5.501
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