Related papers: Decision Making, Strategy dynamics, and Crowd Form…
In this paper, we introduce a framework to study local interactions due to the presence of herding behavior in a minority game. The idea behind this approach is to consider that some of the agents who play the game believe that some of…
Minority game is a simple-mined econophysical model capturing the cooperative behavior among selfish players. Previous investigations, which were based on numerical simulations up to about 100 players for a certain parameter $\alpha$ in the…
Evolutionary game theory is a mathematical toolkit to analyse the interactions that an individual agent has in a population and how the composition of strategies in this population evolves over time. While it can provide neat solutions to…
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…
Understanding and predicting the behavior of large-scale multi-agents in games remains a fundamental challenge in multi-agent systems. This paper examines the role of heterogeneity in equilibrium formation by analyzing how smooth…
We study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor…
Starting from the Minority Game and building more and more sophisticated models of adaptive agents, we show that minority mechanisms underly any model where agents learn collectively a resource level that can be either obvious and constant…
In this paper, we show how a dynamic population game can model the strategic interaction and migration decisions made by a large population of agents in response to epidemic prevalence. Specifically, we consider a modified…
Semiotic dynamics is a novel field that studies how semiotic conventions spread and stabilize in a population of agents. This is a central issue both for theoretical and technological reasons since large system made up of communicating…
We study the dynamics and statics of a dilute batch minority game with random external information. We focus on the case in which the number of connections per agent is infinite in the thermodynamic limit. The dynamical scenario of…
Using the minority game as a model for competition dynamics, we investigate the effects of inter-agent communications on the global evolution of the dynamics of a society characterized by competition for limited resources. The agents…
We consider a simple binary market model containing $N$ competitive agents. The novel feature of our model is that it incorporates the tendency shown by traders to look for patterns in past price movements over multiple time scales, i.e.…
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,…
Collective, especially group-based, managerial decision making is crucial in organizations. Using an evolutionary theoretic approach to collective decision making, agent-based simulations were conducted to investigate how human collective…
The Parallel Minority Game (PMG) refers to a set of Minority Games (MG), played in parallel, where each agent only has two choices to pick from, but each choice can host agents of many kind i.e., their other alternative can be from any…
The large-population system consists of considerable small agents whose individual behavior and mass effect are interrelated via their state-average. The mean-field game provides an efficient way to get the decentralized strategies of…
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 a strategy capable of describing basic features of the dynamics of crowds. The behaviour of the crowd is considered from a twofold perspective. We examine both the large scale behaviour of the crowd, and phenomena happening at…
We study binary opinion dynamics in a fully connected network of interacting agents. The agents are assumed to interact according to one of the following rules: (1) Voter rule: An updating agent simply copies the opinion of another randomly…
Strategic diversity is often essential in games: in multi-player games, for example, evaluating a player against a diverse set of strategies will yield a more accurate estimate of its performance. Furthermore, in games with…