Minority games, diversity, cooperativity and the concept of intelligence

Bernardo A. Mello and Daniel Cajueiro

Physica A: Statistical Mechanics and its Applications, 2008, vol. 387, issue 2, 557-566

Abstract: In this paper we revisit some minority games formed by two different types of agents. There are some games where the differences of power processing among the agents are fundamental for achieving success. In other games, which are characterized by a dynamical phase transition, the results can only be explained by cooperative intelligence and diversity. In both cases the concept of informational efficiency plays an important role in the understanding of the dynamics. Finally, aiming to explain the results of these games, we try to make a link among diversity, informational efficiency and the concept of intelligence.

Keywords: Heterogeneous agents; Minority games; Phase transition; 2 random histories (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:387:y:2008:i:2:p:557-566

DOI: 10.1016/j.physa.2007.09.014

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