On the minority game: Analytical and numerical studies

Damien Challet and Yi-Cheng Zhang

Physica A: Statistical Mechanics and its Applications, 1998, vol. 256, issue 3, 514-532

Abstract: We investigate further several properties of the minority game we have recently introduced. We explain the origin of the phase transition and give an analytical expression of σ2/N in the N⪡2M region. The ability of the players to learn a given payoff is also analyzed, and we show that the Darwinian evolution process tends to a self-organized state, in particular, the lifetime distribution is a power-law with exponent −2. Furthermore, we study the influence of identical players on their gain and on the systems performance. Finally, we show that large brains always take advantage of small brains.

Keywords: Minority game; Organization; Evolution (search for similar items in EconPapers)
Date: 1998
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Citations: View citations in EconPapers (79)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:256:y:1998:i:3:p:514-532

DOI: 10.1016/S0378-4371(98)00260-X

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