Minority game: a mean-field-like approach

Inés Caridi and Horacio Ceva

Physica A: Statistical Mechanics and its Applications, 2003, vol. 317, issue 1, 247-258

Abstract: We calculate the standard deviation of (N1−N0), the difference of the number of agents choosing between the two alternatives of the minority game. Our approach is based on two approximations: we use the whole set of possible strategies, rather than only those distributed between the agents involved in a game; moreover, we assume that a period-two dynamics discussed by previous authors is appropriate within the range of validity of our work. With these approximations we introduce a set of states of the system, and are able to replace time averages by ensemble averages over these states. Our results show a very good agreement with simulations results for most part of the informationally efficient phase.

Date: 2003
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:317:y:2003:i:1:p:247-258

DOI: 10.1016/S0378-4371(02)01332-8

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