Statistical mechanics of systems with heterogeneous agents: Minority Games
Statistical Mechanics
2009-10-31 v2
Abstract
We study analytically a simple game theoretical model of heterogeneous interacting agents. We show that the stationary state of the system is described by the ground state of a disordered spin model which is exactly solvable within the simple replica symmetric ansatz. Such a stationary state differs from the Nash equilibrium where each agent maximizes her own utility. The latter turns out to be characterized by a replica symmetry broken structure. Numerical results fully agree with our analytic findings.
Keywords
Cite
@article{arxiv.cond-mat/9904392,
title = {Statistical mechanics of systems with heterogeneous agents: Minority Games},
author = {D. Challet and M. Marsili and R. Zecchina},
journal= {arXiv preprint arXiv:cond-mat/9904392},
year = {2009}
}
Comments
4 pages, 1 Postscript figure. Revised version