Crowd-anticrowd theory of the minority game

M. Hart, P. Jefferies, Neil F Johnson, P. M. Hui

Research output: Contribution to journalArticle

64 Citations (Scopus)

Abstract

The Minority Game is a simple yet highly non-trivial agent-based model for a complex adaptive system. Here, we provide an explanation of the game's fluctuations which is both intuitive and quantitative, and which applies over the entire parameter range of interest. The physical idea behind our theory is to describe the interplay between crowds of like-minded agents and their anticorrelated partners (anticrowds).

Original languageEnglish (US)
Pages (from-to)537-544
Number of pages8
JournalPhysica A: Statistical Mechanics and its Applications
Volume298
Issue number3-4
DOIs
StatePublished - Sep 15 2001
Externally publishedYes

Fingerprint

Minority Game
Agent-based Model
games
Adaptive Systems
minorities
Intuitive
Complex Systems
Entire
Game
Fluctuations
Range of data

Keywords

  • Agent-based models
  • Complex adaptive systems
  • Econophysics

ASJC Scopus subject areas

  • Mathematical Physics
  • Statistical and Nonlinear Physics

Cite this

Crowd-anticrowd theory of the minority game. / Hart, M.; Jefferies, P.; Johnson, Neil F; Hui, P. M.

In: Physica A: Statistical Mechanics and its Applications, Vol. 298, No. 3-4, 15.09.2001, p. 537-544.

Research output: Contribution to journalArticle

Hart, M. ; Jefferies, P. ; Johnson, Neil F ; Hui, P. M. / Crowd-anticrowd theory of the minority game. In: Physica A: Statistical Mechanics and its Applications. 2001 ; Vol. 298, No. 3-4. pp. 537-544.
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