Related papers: Minority games with finite score memory
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…
We propose a new model of minority game with so-called smart agents such that the standard deviation and the total loss in this model reach the theoretical minimum values in the limit of long time. The smart agents use trail and error…
This paper studies the relations between agent performances and their intellective abilities in mix-games in which there are two groups of agents: one group plays a minority game, and the other plays a majority game. These two groups have…
We study minority games in efficient regime. By incorporating the utility function and aggregating agents with similar strategies we develop an effective mesoscale notion of state of the game. Using this approach, the game can be…
In this paper a hierarchical extension of the Minority Game is defined and studied. Numerical simulations show a special type of emergent global behavior between separated parts of the hierarchical structure, connected only through a…
Economic ensembles can be modeled as networks of interacting agents whose be-haviors are described in terms of game theory. The evolutionary paradigm has been applied to two-person games to discover strategies in this context.…
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…
Relying on recent generalizations of the Fra\"iss\'e theory to a broader category-theoretic context, we study the class of abstract finite games played between two players and show the existence of an infinitetly countable game which is…
We provide a theoretical description of the Minority Game in terms of crowd effects. The size of the fluctuations arising in the game is controlled by the interplay between crowds of like-minded agents and their anti-correlated partners…
We study the behavior of simple models for financial markets with widely spread frequency either in the trading activity of agents or in the occurrence of basic events. The generic picture of a phase transition between information efficient…
A major open problem in the area of infinite-duration games is to characterize winning conditions that are determined in finite-memory strategies. Infinite-duration games are usually studied over edge-colored graphs, with winning conditions…
Infinite games with imperfect information are known to be undecidable unless the information flow is severely restricted. One fundamental decidable case occurs when there is a total ordering among players, such that each player has access…
Strategic-form min-max game theory examines the existence, multiplicity, selection of equilibria, and the worst-case computational complexity under perfect rationality. However, in many applications, games are drawn from an ensemble, and…
Two-player win/lose games of infinite duration are involved in several disciplines including computer science and logic. If such a game has deterministic winning strategies, one may ask how simple such strategies can get. The answer may…
In the Minority Game (MG), an odd number of heterogeneous and adaptive agents choose between two alternatives and those who end up on the minority side win. When the information available to the agents to make their choice is the identity…
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 use generating functional analysis to study minority-game type market models with generalized strategy valuation updates that control the psychology of agents' actions. The agents' choice between trend following and contrarian trading,…
We discuss in detail the derivation of stochastic differential equations for the continuum time limit of the Minority Game. We show that all properties of the Minority Game can be understood by a careful theoretical analysis of such…
We study infinite asymptotic games in Banach spaces with an F.D.D. and prove that analytic games are determined by characterising precisely the conditions for the players to have winning strategies. These results are applied to characterise…
Constant and symmetric price impact functions, most commonly used in agent-based market modelling, are shown to give rise to paradoxical and inconsistent outcomes in the simplest case of arbitrage exploitation when open-hold-close actions…