Crowd-anticrowd theory of the minority game

Authored by PM Hui, NF Johnson, P Jefferies

Date Published: 2001-09-15

DOI: 10.1016/s0378-4371(01)00245-x

Sponsors: No sponsors listed

Platforms: No platforms listed

Model Documentation: Other Narrative Mathematical description

Model Code URLs: Model code not found

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). (C) 2001 Elsevier Science B.V. All rights reserved.

Tags

Agent-based models econophysics Complex adaptive systems