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On Non-Ergodic Phases In Minority Games

Author

Listed:
  • ANDREA DE MARTINO

    (INFM/CNR and Dipartimento di Fisica, Sapienza Università di Roma, Rome, Italy)

  • TOBIAS GALLA

    (The Abdus Salam International Centre for Theoretical Physics, Strada Costiera 11, 34014 Trieste, Italy;
    Theoretical Physics, School of Physics and Astronomy, The University of Manchester, Manchester M13 9PL, UK)

Abstract

In the first part of this review, we survey the known analytic results regarding the non-ergodic phase of standard Minority Games. Such phases are characterized by the fact that, at odds with ergodic regimes, the steady state properties of the game (e.g. the volatility) depend both on the initial conditions chosen for the agents' learning process as well as on the learning rate. Secondly, we present a discussion of the effects of finite-memory learning, which lifts the non-ergodicity, in the context of spherical Minority Games.

Suggested Citation

  • Andrea De Martino & Tobias Galla, 2011. "On Non-Ergodic Phases In Minority Games," New Mathematics and Natural Computation (NMNC), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 249-265.
    • Handle: RePEc:wsi:nmncxx:v:07:y:2011:i:02:n:s1793005711001913
    DOI: 10.1142/S1793005711001913
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    References listed on IDEAS

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    1. Tobias Galla & Giancarlo Mosetti & Yi-Cheng Zhang, 2006. "Anomalous fluctuations in Minority Games and related multi-agent models of financial markets," Papers physics/0608091, arXiv.org.
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