Score-dependent payoffs and Minority Games

F. Ren, B. Zheng, T. Qiu and S. Trimper

Physica A: Statistical Mechanics and its Applications, 2006, vol. 371, issue 2, 649-657

Abstract: Payoffs which depend on the scores of the strategies are introduced into the standard Minority Game (MG). The double-periodicity behavior of the standard model is consequently removed, and stylized facts arise, such as long-range volatility correlations and “fat-tails” of the probability distribution of the returns. Furthermore, the score-dependent payoffs could coexist with the inactive strategy in the grand canonical MG, and play an important role in the thermal MG.

Keywords: Minority game; Econophysics (search for similar items in EconPapers)
Date: 2006
References: View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:371:y:2006:i:2:p:649-657

DOI: 10.1016/j.physa.2006.03.049

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