Shedding light on El Farol
Statistical Mechanics
2015-06-24 v1 Disordered Systems and Neural Networks
Abstract
We mathematize El Farol bar problem and transform it into a workable model. In general, the average convergence to optimality at the collective level is trivial and does not even require any intelligence on the side of agents. Secondly, specializing to a particular ensemble of continuous strategies yields a model similar to the Minority Game. Statistical physics of disordered systems allows us to derive a complete understanding of the complex behavior of this model, on the basis of its phase diagram.
Keywords
Cite
@article{arxiv.cond-mat/0306445,
title = {Shedding light on El Farol},
author = {Damien Challet and Matteo Marsili and Gabriele Ottino},
journal= {arXiv preprint arXiv:cond-mat/0306445},
year = {2015}
}
Comments
8 pages, 5 figures