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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…

Physics and Society · Physics 2008-12-02 Tobias Galla , Giancarlo Mosetti , Yi-Cheng Zhang

We study evolutionary game dynamics in a well-mixed populations of finite size, N. A well-mixed population means that any two individuals are equally likely to interact. In particular we consider the average abundances of two strategies, A…

Populations and Evolution · Quantitative Biology 2009-02-24 Tibor Antal , Martin A. Nowak , Arne Traulsen

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…

Disordered Systems and Neural Networks · Physics 2008-11-23 J. Menche , J. R. L. de Almeida

In the standard Minority Game, players use historical minority choices as the sole public information to pick one out of the two alternatives. However, publishing historical minority choices is not the only way to present global system…

Physics and Society · Physics 2009-11-11 H. F. Chau , F. K. Chow , K. H. Ho , W. C. Man

During epidemics, the population is asked to Socially Distance, with pairs of individuals keeping two meters apart. We model this as a new optimization problem by considering a team of agents placed on the nodes of a network. Their common…

Optimization and Control · Mathematics 2021-11-12 Steve Alpern , Li Zeng

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''…

Statistical Mechanics · Physics 2009-11-10 A. De Martino , I. Giardina , G. Mosetti

Perfect synchronicity in $N$-player games is a useful theoretical dream, but communication delays are inevitable and may result in asynchronous interactions. Some systems such as financial markets are asynchronous by design, and yet most…

Physics and Society · Physics 2015-05-13 Giancarlo Mosetti , Damien Challet , Sorin Solomon

We consider a version of large population games whose players compete for resources using strategies with adaptable preferences. The system efficiency is measured by the variance of the decisions. In the regime where the system can be…

Condensed Matter · Physics 2009-11-10 K. Y. Michael Wong , S. W. Lim , Peixun Luo

The spontaneous behavioral changes of the agents during an epidemic can have significant effects on the delay and the prevalence of its spread. In this work, we study a social distancing game among the agents of a population, who determine…

Physics and Society · Physics 2020-07-13 A. -R. Lagos , I. Kordonis , G. P. Papavassilopoulos

With remarkable significance in migration prediction, global disease mitigation, urban planning and many others, an arresting challenge is to predict human mobility fluxes between any two locations. A number of methods have been proposed…

Physics and Society · Physics 2021-04-01 Xiao-Yong Yan , Tao Zhou

The Minority Game (MG) behaves as a stochastically perturbed deterministic system due to the coin-toss invoked to resolve tied strategies. Averaging over this stochasticity yields a description of the MG's deterministic dynamics via mapping…

Disordered Systems and Neural Networks · Physics 2009-11-07 P. Jefferies , M. L. Hart , N. F. Johnson

We propose an analytically tractable variation of the minority game in which rational agents use probabilistic strategies. In our model, $N$ agents choose between two alternatives repeatedly, and those who are in the minority get a pay-off…

Trading and Market Microstructure · Quantitative Finance 2014-02-11 V. Sasidevan , Deepak Dhar

This paper introduces a microscopic approach to model epidemics, which can explicitly consider the consequences of individual's decisions on the spread of the disease. We first formulate a microscopic multi-agent epidemic model where every…

Multiagent Systems · Computer Science 2020-04-28 Changliu Liu

In this paper we consider a network of boolean agents that compete for a limited resource. The agents play the so called Generalized Minority Game where the capacity level is allowed to vary externally. We study the properties of such a…

Adaptation and Self-Organizing Systems · Physics 2009-11-10 Aram Galstyan , Kristina Lerman

Both the phenomenology and the theory of minority games (MG) with more than two strategies per agent are different from those of the conventional and extensively studied case S=2. MGs with $S>2$ exhibit nontrivial statistics of the…

Disordered Systems and Neural Networks · Physics 2009-11-11 N. Shayeghi , A. C. C. Coolen

We present a quantitative theory, based on crowd effects, for the market volatility in a Minority Game played by a mixed population. Below a critical concentration of generalized strategy players, we find that the volatility in the crowded…

Condensed Matter · Physics 2009-10-31 P. Jefferies , M. Hart , N. F. Johnson , P. M. Hui

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…

Statistical Mechanics · Physics 2009-11-07 Marko Sysi-Aho , Anirban Chakraborti , Kimmo Kaski

While artificial intelligence has been applied to control players' decisions in board games for over half a century, little attention is given to games with no player competition. Pandemic is an exemplar collaborative board game where all…

Artificial Intelligence · Computer Science 2021-03-23 Konstantinos Sfikas , Antonios Liapis

We study two-player reachability games on finite graphs. At each state the interaction between the players is concurrent and there is a stochastic Nature. Players also play stochastically. The literature tells us that 1) Player B, who wants…

Computer Science and Game Theory · Computer Science 2021-10-29 Benjamin Bordais , Patricia Bouyer , Stéphane Le Roux

We consider a model that demonstrates the crucial role of inertia and stickiness in multi-agent systems, based on the Minority Game (MG). The inertia of an agent is introduced into the game model by allowing agents to apply hypothesis…

Physics and Society · Physics 2009-11-11 W. C. Man , H. F. Chau