Crowd–anticrowd theory of the minority game

M Hart, P Jefferies, N.f Johnson and P.m Hui

Physica A: Statistical Mechanics and its Applications, 2001, vol. 298, issue 3, 537-544

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).

Keywords: Complex adaptive systems; Econophysics; Agent-based models (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:298:y:2001:i:3:p:537-544

DOI: 10.1016/S0378-4371(01)00245-X

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