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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…

凝聚态物理 · 物理学 2007-05-23 Damien Challet

In games with a large number of players where players may have overlapping objectives, the analysis of stable outcomes typically depends on player types. A special case is when a large part of the player population consists of imitation…

计算机科学与博弈论 · 计算机科学 2010-06-18 Soumya Paul , R. Ramanujam

The Minority Game is a generic model of competing adaptive agents, which is often believed to be a model of financial markets. We discuss to which extend this is a reasonable statement, and present minimal modifications that make this model…

统计力学 · 物理学 2009-11-07 D. Challet , M. Marsili , Y. -C. Zhang

We explore various extensions of Challet and Zhang's Minority Game in an attempt to gain insight into the dynamics underlying financial markets. First we consider a heterogeneous population where individual traders employ differing `time…

凝聚态物理 · 物理学 2007-05-23 Neil F. Johnson , Michael Hart , Pak Ming Hui , Dafang Zheng

We discuss a simple version of the Minority Game (MG) in which agents hold only one strategy each, but in which their capitals evolve dynamically according to their success and in which the total trading volume varies in time accordingly.…

物理与社会 · 物理学 2015-05-13 Tobias Galla , Yi-Cheng Zhang

In many stochastic games stemming from financial models, the environment evolves with latent factors and there may be common noise across agents' states. Two classic examples are: (i) multi-agent trading on electronic exchanges, and (ii)…

最优化与控制 · 数学 2019-07-24 Dena Firoozi , Peter E. Caines , Sebastian Jaimungal

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…

无序系统与神经网络 · 物理学 2008-11-23 J. Menche , J. R. L. de Almeida

We show analytically how the fluctuations (i.e. standard deviation) in the Minority Game (MG) can be made to decrease below the random coin-toss limit if the agents use more general behavioral strategies. This suppression of the standard…

凝聚态物理 · 物理学 2009-10-31 M. Hart , P. Jefferies , N. F. Johnson , P. M. Hui

Game theory has been developed by scientists as a theory of strategic interaction among players who are supposed to be perfectly rational. These strategic interactions might have been presented in an auction, a business negotiation, a chess…

计算机科学与博弈论 · 计算机科学 2020-04-07 Medet Kanmaz , Elif Surer

It is known that the memory is relevant in the symmetric phase of the minority game. In our previous work we have successfully explained the quasi-periodic behavior of the game in the symmetric phase with the help of the probability theory.…

数据分析、统计与概率 · 物理学 2009-11-13 C. H. Hung , S. S. Liaw

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…

物理与社会 · 物理学 2015-05-13 Giancarlo Mosetti , Damien Challet , Sorin Solomon

In financial markets, agents often mutually influence each other's investment strategies and adjust their strategies to align with others. However, there is limited quantitative study of agents' investment strategies in such scenarios. In…

系统与控制 · 电气工程与系统科学 2025-01-27 Huisheng Wang , H. Vicky Zhao

We study the interpersonal trust of a population of agents, asking whether chance may decide if a population ends up in a high trust or low trust state. We model this by a discrete time, random matching stochastic coordination game. Agents…

物理与社会 · 物理学 2024-05-20 Benedikt V. Meylahn , Arnoud V. den Boer , Michel Mandjes

In this work we present a pedagogical introduction to the minority game and various new versions of it with interesting properties, focusing in its applications in socialphysics. For instance, some systems display a kind of social behavior…

无序系统与神经网络 · 物理学 2007-05-23 J. R. L. de Almeida , J. Menche

We study the dynamics of individual agents in some kinetic models of wealth exchange, particularly, the models with savings. For the model with uniform savings, agents perform simple random walks in the "wealth space". On the other hand, we…

物理与社会 · 物理学 2011-01-04 Arnab Chatterjee , Parongama Sen

We study a multi-agent decision problem in population games, where agents select from multiple available strategies and continually revise their selections based on the payoffs associated with these strategies. Unlike conventional…

多智能体系统 · 计算机科学 2024-09-17 Shinkyu Park

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…

交易与市场微观结构 · 定量金融 2014-02-11 V. Sasidevan , Deepak Dhar

When playing games in groups, it is an advantage for individuals to have accurate statistical information on the strategies of their opponents. Such information may be obtained by remembering previous interactions. We consider a…

适应与自组织系统 · 物理学 2015-10-14 James Burridge

In this article we study the behavior of a group of economic agents in the context of cooperative game theory, interacting according to rules based on the Potts Model with suitable modifications. Each agent can be thought of as belonging to…

计算工程、金融与科学 · 计算机科学 2007-05-23 Roberto da Silva , Alexandre Tavares Baraviera , Silvio R. Dahmen

We introduce a version of the Minority Game where the total number of available choices is $D>2$, but the agents only have two available choices to switch. For all agents at an instant in any given choice, therefore, the other choice is…

物理与社会 · 物理学 2020-10-19 Soumyajyoti Biswas , Amit Kr Mandal