Literature DB >> 11017635

Statistical mechanics of systems with heterogeneous agents: minority games

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Abstract

We study analytically a simple game theoretical model of heterogeneous interacting agents. We show that the stationary state of the system is described by the ground state of a disordered spin model which is exactly solvable within the simple replica symmetric ansatz. Such a stationary state differs from the Nash equilibrium where each agent maximizes her own utility. The latter turns out to be characterized by a replica symmetry broken structure. Numerical results fully agree with our analytical findings.

Entities:  

Year:  2000        PMID: 11017635     DOI: 10.1103/PhysRevLett.84.1824

Source DB:  PubMed          Journal:  Phys Rev Lett        ISSN: 0031-9007            Impact factor:   9.161


  3 in total

1.  Emergence of grouping in multi-resource minority game dynamics.

Authors:  Zi-Gang Huang; Ji-Qiang Zhang; Jia-Qi Dong; Liang Huang; Ying-Cheng Lai
Journal:  Sci Rep       Date:  2012-10-04       Impact factor: 4.379

2.  Calibrating emergent phenomena in stock markets with agent based models.

Authors:  Lucas Fievet; Didier Sornette
Journal:  PLoS One       Date:  2018-03-02       Impact factor: 3.240

3.  Controlling herding in minority game systems.

Authors:  Ji-Qiang Zhang; Zi-Gang Huang; Zhi-Xi Wu; Riqi Su; Ying-Cheng Lai
Journal:  Sci Rep       Date:  2016-02-17       Impact factor: 4.379

  3 in total

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