Stochastic decision-making in the minority game

D. Sherrington, A.C.C. Coolen and J.A.F. Heimel

Physica A: Statistical Mechanics and its Applications, 2002, vol. 314, issue 1, 83-91

Abstract: A discussion is presented of the effects of stochasticity in the decision-making of agents in the minority game. Both simulational and analytic results are reported and discussed for both additive and multiplicative noise. As a function of the ratio d of information dimension to number of agents a phase transition separates a low d non-ergodic phase from a high d ergodic phase. For additive noise the critical dc is temperature-independent but for multiplicative noise dc(T) decreases with T. Additive noise does not affect the asymptotic behaviour for d>dc but is relevant below dc. Multiplicative noise has consequence for all d.

Keywords: Econophysics; Statistical physics; Minority game (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:314:y:2002:i:1:p:83-91

DOI: 10.1016/S0378-4371(02)01158-5

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