Related papers: Minority Games
This paper contributes to the program of numerical characterisation and classification of simple games outlined in the classical monograph of von Neumann and Morgenstern (1944). One of the most fundamental questions of this program is what…
Complex systems can exhibit unexpected large changes, e.g. a crash in a financial market. We examine the large endogenous changes arising within a non-trivial generalization of the Minority Game: the Grand Canonical Minority Game (GCMG).…
We study the asymptotic macroscopic properties of the mixed majority-minority game, modeling a population in which two types of heterogeneous adaptive agents, namely ``fundamentalists'' driven by differentiation and ``trend-followers''…
In this paper, we present a simple stock market model (the market game) which incorporates, as ab initio dynamics delayed majority dynamics, according to which agents (with heterogeneous strategies and price expectations) are rewarded if…
A finite memory is introduced in the score dynamics of Minority Games. As expected, this removes the dependence of the stationary state on the initial conditions. However, it also causes an unexpected increase of fluctuations in…
In a one-off Minority game, when a group of players agree to collaborate they gain an advantage over the remaining players. We consider the advantage obtained in a quantum Minority game by a coalition sharing an initially entangled state…
We show that a simple evolutionary scheme, when applied to the minority game (MG), changes the phase structure of the game. In this scheme each agent evolves individually whenever his wealth reaches the specified bankruptcy level, in…
We develop a game theoretical model of $N$ heterogeneous interacting agents called the intelligent minority game. The ``intelligent'' agents play the basic minority game and depending on their performances, generate new strategies using the…
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…
Recent results and interpretations are presented for the thermal minority game, concentrating on deriving and justifying the fundamental stochastic differential equation for the microdynamics.
We formulate a theory of agent-based models in which agents compete to be in a winning group. The agents may be part of a network or not, and the winning group may be a minority group or not. The novel feature of the present formalism is…
It is shown how the generating functional method of De Dominicis can be used to solve the dynamics of the original version of the minority game (MG), in which agents observe real as opposed to fake market histories. Here one again finds…
A quantum version of the Minority game for an arbitrary number of agents is considered. It is known that when the number of agents is odd, quantizing the game produces no advantage to the players, but for an even number of agents new Nash…
This paper presents a new mathematical formalism that describes the quantization of games. The study of so-called quantum games is quite new, arising from a seminal paper of D. Meyer \cite{Meyer} published in Physics Review Letters in 1999.…
Using generating functional and replica techniques, respectively, we study the dynamics and statics of a spherical Minority Game (MG), which in contrast with a spherical MG previously presented in J.Phys A: Math. Gen. 36 11159 (2003)…
In this paper, we introduce an abstract fuzzy economy (generalized fuzzy game) model with a countable space of actions and we study the existence of the fuzzy equilibrium. As applications, two types of results are obtained. The first ones…
We introduce and investigate a range of general notions of a game. Our principal notion is based on a set of agents modifying a relational structure in a discrete evolution sequence. We also introduce and study a variety of ways to model…
The Ultimatum Game (UG) is an economic game where two players (proposer and responder) decide how to split a certain amount of money. While traditional economic theories based on rational decision making predict that the proposer should…
In this expository article, we give an overview of the concept of potential mean field games of first order. We give a new proof that minimizers of the potential are equilibria by using a Lagrangian formulation. We also provide criteria to…
Game-theoretic probability uses the structure of gambles to define a concept like probability, but which is more flexible and robust. We show that results in game-theoretic probability can be thought of as minimax theorems for specific…