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The minority game with incomplete strategies

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  • Yang, Cheng
  • Sun, Shixin
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    Abstract

    This paper proposes a new model of Incomplete Minority Game (IMG), which features a default hierarchy of rules. This model introduces random bits into players’ individual strategies and is capable of applying the exception rules in the absence of the default one. Analysis of the numerical experiment results indicates that, in comparison with the standard Minority Game (SMG) model, this IMG model expands the maximum ensemble of uncorrelated strategies (MEUS) and excels in the effective strategy set and dynamic evolution of individual strategies, which enhance the overall performance by reaching an approximate ideal status in a shorter time with less memory steps and more stable combination of strategies. This paper also discusses the practical implication of the new IMG model.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0378437107001240
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    Bibliographic Info

    Article provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.

    Volume (Year): 379 (2007)
    Issue (Month): 2 ()
    Pages: 645-653

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    Handle: RePEc:eee:phsmap:v:379:y:2007:i:2:p:645-653

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    Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/

    Related research

    Keywords: Minority game (MG); Self-organized system; Default hierarchy; Evolutionary game;

    References

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    1. Challet, Damien & Zhang, Yi-Cheng, 1998. "On the minority game: Analytical and numerical studies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 256(3), pages 514-532.
    2. 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.
    3. Caridi, Inés & Ceva, Horacio, 2004. "The Minority Game with interactions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 339(3), pages 574-582.
    4. Li, Yi & Riolo, Rick & Savit, Robert, 2000. "Evolution in minority games. (I). Games with a fixed strategy space," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 276(1), pages 234-264.
    5. Li, Yi & Riolo, Rick & Savit, Robert, 2000. "Evolution in minority games. (II). Games with variable strategy spaces," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 276(1), pages 265-283.
    6. 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.
    7. Chow, F.K & Chau, H.F, 2003. "Multiple choice minority game," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 319(C), pages 601-615.
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