Social organization in the Minority Game model
AbstractWe study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor agents result. We found that the global effectivity is optimized at certain value of the imitation probability, which decreases with increasing memory length. The social tensions are suppressed for large imitation probability, but generally the requirements of high global effectivity and low social tensions are in conflict.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.
Volume (Year): 286 (2000)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
Minority game; Self-organization; Economics;
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Giorgio Fagiolo & Marco Valente, 2005.
"Minority Games, Local Interactions, and Endogenous Networks,"
Society for Computational Economics, vol. 25(1), pages 41-57, February.
- Giorgio Fagiolo & Marco Valente, 2004. "Minority Games, Local Interactions, and Endogenous Networks," LEM Papers Series 2004/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Valente M. & Fagiolo G., 2004. "Minority Games, Local Interactions, and Endogenous Networks," Computing in Economics and Finance 2004, Society for Computational Economics 110, Society for Computational Economics.
- Chen, Shu-Heng & Gostoli, Umberto, 2013. "Coordination in the El Farol Bar problem: The role of social preferences and social networks," Economics Discussion Papers 2013-20, Kiel Institute for the World Economy.
- Shu-Heng Chen & Umberto Gostoli, 2011. "Agent-Based Modeling of the El Farol Bar Problem," ASSRU Discussion Papers, ASSRU - Algorithmic Social Science Research Unit 1120, ASSRU - Algorithmic Social Science Research Unit.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.