Evolutionary minority game with heterogeneous strategy distribution

Authored by SW Lim

Date Published: 2000-11-15

DOI: 10.1016/s0378-4371(00)00444-1

Sponsors: No sponsors listed

Platforms: No platforms listed

Model Documentation: Other Narrative

Model Code URLs: Model code not found

Abstract

We present detailed numerical results for a modified form of the so-called Minority Game, which provides a simplified model of a competitive market. Each agent has a limited set of strategics, and competes to be in a minority. An evolutionary rule for strategy modification is included to mimic simple learning. The results can be understood by considering crowd formation within the population. (C) 2000 Elsevier Science B.V. All rights reserved.

Tags

Agent-based models econophysics Complex adaptive systems