Multichoice minority game: dynamics and global cooperation

F.K. Chow and H.F. Chau

Physica A: Statistical Mechanics and its Applications, 2004, vol. 337, issue 1, 288-306

Abstract: In the original two-choice minority game (MG), selfish players cooperate with each other even though direct communication is not allowed. Moreover, there is a periodic dynamics in the MG whenever the strategy space size is much smaller than the number of strategies at play. Do these phenomena persist if every player has Nc>2 choices where all player's strategies are picked from a reduced strategy space? We answer this question by studying a multichoice minority game model known as MG(Nc,|S|). Numerical simulation shows that these two models have very similar global cooperative behaviors. Nevertheless, unlike in the MG, periodic dynamics does not always appear in the MG(Nc,|S|) even when the strategy space size is much smaller than the number of strategies at play.

Keywords: Global cooperation; Minority game; Multichoice game; Periodic dynamics (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:337:y:2004:i:1:p:288-306

DOI: 10.1016/j.physa.2004.01.048

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