TY - JOUR
T1 - Minority game with arbitrary cutoffs
AU - Johnson, N. F.
AU - Hui, P. M.
AU - Zheng, Dafang
AU - Tai, C. W.
N1 - Funding Information:
We thank D. Challet, D. Leonard, D. Sherrington and A. Cavagna for discussions concerning the basic minority game. One of us (D.Z.) would like to thank the Department of Physics at the Chinese University of Hong Kong for partial support through a C.N. Yang Visiting Fellowship.
Copyright:
Copyright 2017 Elsevier B.V., All rights reserved.
PY - 1999/7/15
Y1 - 1999/7/15
N2 - We study a model of a competing population of N adaptive agents, with similar capabilities, repeatedly deciding whether to attend a bar with an arbitrary cutoff L. Decisions are based upon past outcomes. The agents are only told whether the actual attendance is above or below L. For L to approximately N/2, the game reproduces the main features of Challet and Zhang's minority game. As L is lowered, however, the mean attendances in different runs tend to divide into two groups. The corresponding standard deviations for these two groups are very different. This grouping effect results from the dynamical feedback governing the game's time-evolution, and is not reproduced if the agents are fed a random history.
AB - We study a model of a competing population of N adaptive agents, with similar capabilities, repeatedly deciding whether to attend a bar with an arbitrary cutoff L. Decisions are based upon past outcomes. The agents are only told whether the actual attendance is above or below L. For L to approximately N/2, the game reproduces the main features of Challet and Zhang's minority game. As L is lowered, however, the mean attendances in different runs tend to divide into two groups. The corresponding standard deviations for these two groups are very different. This grouping effect results from the dynamical feedback governing the game's time-evolution, and is not reproduced if the agents are fed a random history.
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U2 - 10.1016/S0378-4371(99)00117-X
DO - 10.1016/S0378-4371(99)00117-X
M3 - Article
AN - SCOPUS:0032648396
VL - 269
SP - 493
EP - 502
JO - Physica A: Statistical Mechanics and its Applications
JF - Physica A: Statistical Mechanics and its Applications
SN - 0378-4371
IS - 2
ER -