El Farol revisited

Hilmi Luş, Cevat Onur Aydın, Sinan Keten, Hakan İsmail Ünsal and Ali Rana Atılgan

Physica A: Statistical Mechanics and its Applications, 2005, vol. 346, issue 3, 651-656

Abstract: This article is concerned with the global behavior of agents in the El Farol bar problem. In particular, we discuss global attendance in terms of its mean and variance, and show that there is a strong dependence of both on the externally imposed comfort level. We present a possible interpretation for the observed behavior, and propose that the mean attendance converges to the perceived threshold value as opposed to the actually imposed one.

Keywords: Agent-based modeling; Bar problem; Complex systems (search for similar items in EconPapers)
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:346:y:2005:i:3:p:651-656

DOI: 10.1016/j.physa.2004.09.040

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