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The local minority game

Author

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  • Moelbert, S.
  • De Los Rios, P.

Abstract

Ecologists and economists try to explain collective behavior in terms of competitive systems of selfish individuals with the ability to learn from the past. Statistical physicists have been investigating models which might contribute to the understanding of the underlying mechanisms of these systems. During the last 3yr one intuitive model, commonly referred to as the minority game (MG), has attracted considerable attention. Powerful yet simple, the minority game has produced encouraging results which can explain the temporal behavior of competitive systems. Here we switch the interest to the phenomena due to a distribution of the individuals in space. For analyzing these effects we modify the minority game and the local minority game (LMG) is introduced. We study the system both numerically and analytically, using the customary techniques already developed for the ordinary Minority Game.

Suggested Citation

  • Moelbert, S. & De Los Rios, P., 2002. "The local minority game," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 303(1), pages 217-225.
    • Handle: RePEc:eee:phsmap:v:303:y:2002:i:1:p:217-225
    DOI: 10.1016/S0378-4371(01)00480-0
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    Citations

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    Cited by:

    1. Giorgio Fagiolo & Marco Valente, 2005. "Minority Games, Local Interactions, and Endogenous Networks," Computational Economics, Springer;Society for Computational Economics, vol. 25(1), pages 41-57, February.
    2. Shu-Heng Chen & Umberto Gostoli, 2017. "Coordination in the El Farol Bar problem: The role of social preferences and social networks," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 12(1), pages 59-93, April.
    3. Yang, Cheng & Sun, Shixin, 2007. "The minority game with incomplete strategies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 379(2), pages 645-653.
    4. Lustosa, Bernardo C. & Cajueiro, Daniel O., 2010. "Constrained information minority game: How was the night at El Farol?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 389(6), pages 1230-1238.
    5. Xin-Jie Zhang & Yong Tang & Jason Xiong & Wei-Jia Wang & Yi-Cheng Zhang, 2018. "Dynamics of Cooperation in Minority Games in Alliance Networks," Sustainability, MDPI, vol. 10(12), pages 1-17, December.
    6. Kirley, Michael, 2006. "Evolutionary minority games with small-world interactions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 365(2), pages 521-528.

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