Related papers: Maximise global gain in the minority game
The well-known Braess paradox in congestion games states that adding an additional road to a transportation network may increase the total travel time, and consequently decrease the overall efficiency. Motivated by this, this paper presents…
TheMinority Game (MG) has become a paradigm to probe complex social and economical phenomena where adaptive agents compete for a limited resource, and it finds applications in statistical and nonlinear physics as well. In the traditional MG…
We use the Minority Game and some of its variants to show how efficiency depends on learning in models of agents competing for limited resources. Exact results from statistical physics give a clear understanding of the phenomenology, and…
In this work the properties of multi choice minority games are studied by means of extensive computational simulations. We have considered several ways of rewarding the strategies of the players and compared the resulting behaviours of the…
In this paper we study the properties of a Minority Game with evolution realized by using genetic crossover to modify fixed-length decision-making strategies of agents. Although the agents in this evolutionary game act selfishly by trying…
We present detailed numerical results for a modified form of the so-called Minority Game, which provides a simplified model of a competitive market. Each agent has a limited set of strategies, and competes to be in a minority. An…
We review the statistical mechanics approach to the study of the emerging collective behavior of systems of heterogeneous interacting agents. The general framework is presented through examples is such contexts as ecosystem dynamics and…
This paper proposes a modification to Minority Game (MG) by adding some agents who play majority game into MG. So it is referred to as mix-game. The highlight of this model is that the two groups of agents in mix-game have different bounded…
This paper focuses on two commonly used path assignment policies for agents traversing a congested network: self-interested routing, and system-optimum routing. In the self-interested routing policy each agent selects a path that optimizes…
Altruistic behaviour is disadvantageous for the individual while is advantageous for its group. If the target of the selection is the individual, one would expect the selection process to lead to populations formed by wholly homogeneous…
This paper presents karma mechanisms, a novel approach to the repeated allocation of a scarce resource among competing agents over an infinite time. Examples include deciding which ride hailing trip requests to serve during peak demand,…
This article explores the interaction of two agents during a geopolitical operation. Collaborative work is considered, rather than being done alone. However, each agent has the goal of maximizing personal net profit. We will have 3…
We show that in a variant of the Minority Game problem, the agents can reach a state of maximum social efficiency, where the fluctuation between the two choices is minimum, by following a simple stochastic strategy. By imagining a social…
We present a simplified model for the exploitation of finite resources by interacting agents, where each agent receives a random fraction of the available resources. An extremal dynamics ensures that the poorest agent has a chance to change…
In this paper we present results and analyses of a class of games in which heterogeneous agents are rewarded for being in a minority group. Each agent possesses a number of fixed strategies each of which are predictors of the next minority…
The \$-Game was recently introduced as an extension of the Minority Game. In this paper we compare this model with the well know Minority Game and the Majority Game models. Due to the inter-temporal nature of the market payoff, we introduce…
Traffic congestion has large economic and social costs. The introduction of autonomous vehicles can potentially reduce this congestion, both by increasing network throughput and by enabling a social planner to incentivize users of…
We review the recent approaches to modelling financial markets based on multi-agent systems. After a brief summary of the basic stylised facts observed in real-market time-series we discuss some simple agent-based systems which are…
Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…
Optimizing traffic flow is essential for easing congestion. However, even when globally-optimal, coordinated and individualized routes are provided, users may choose alternative routes which offer lower individual costs. By analyzing the…