Volatility and agent adaptability in a self-organizing market

N. F. Johnson, S. Jarvis, R. Jonson, P. Cheung, Y. R. Kwong, P. M. Hui

Research output: Contribution to journalArticlepeer-review

76 Scopus citations


We present results for the so-called "bar-attendance" model of market behavior: p adaptive agents, each possessing n prediction rules chosen randomly from a pool, attempt to attend a bar whose cut-off is s. The global attendance time series has a mean near, but not equal to, s. The variance, or "volatility", can show a minimum with increasing adaptability of the individual agents.

Original languageEnglish (US)
Pages (from-to)230-236
Number of pages7
JournalPhysica A: Statistical Mechanics and its Applications
Issue number1-2
StatePublished - Sep 1 1998


  • Adaptive systems
  • Agents
  • Self-organization

ASJC Scopus subject areas

  • Statistics and Probability
  • Condensed Matter Physics


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