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El Farol revisited

Author

Listed:
  • Luş, Hilmi
  • Onur Aydın, Cevat
  • Keten, Sinan
  • İsmail Ünsal, Hakan
  • Rana Atılgan, Ali

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.

Suggested Citation

  • Luş, Hilmi & Onur Aydın, Cevat & Keten, Sinan & İsmail Ünsal, Hakan & Rana Atılgan, Ali, 2005. "El Farol revisited," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 346(3), pages 651-656.
    • Handle: RePEc:eee:phsmap:v:346:y:2005:i:3:p:651-656
    DOI: 10.1016/j.physa.2004.09.040
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    References listed on IDEAS

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    1. Arthur, W Brian, 1994. "Inductive Reasoning and Bounded Rationality," American Economic Review, American Economic Association, vol. 84(2), pages 406-411, May.
    2. W. Brian Arthur, 1994. "Inductive Reasoning, Bounded Rationality and the Bar Problem," Working Papers 94-03-014, Santa Fe Institute.
    3. Challet, D. & Zhang, Y.-C., 1997. "Emergence of cooperation and organization in an evolutionary game," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 246(3), pages 407-418.
    Full references (including those not matched with items on IDEAS)

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