Minority Game - Experiments and Simulations of Traffic Scenarios

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Minority Game - Experiments and Simulations of Traffic Scenarios

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Thorsten Chmura
Thomas Pitz

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Thorsten Chmura

Abstract

This paper reports laboratory experiments and simulations on a minority game. The minority game is the most important example for a classic non-zerosum- game. The game can be applied on different situations with social and economic contests. We chose an elementary traffic scenario, in which subjects had to choose between a road A and a road B. Nine subjects participated in each session. Subjects played 100 rounds and had to choose between one of the roads. The road which the minority of players chose got positive payoffs. We constructed an extended reinforcement model which fits the empirical data.

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Paper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number bgse23_2004.

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Length: 15
Date of creation: Dec 2004
Date of revision:
Handle: RePEc:bon:bonedp:bgse23_2004

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This paper has been announced in the following NEP Reports:

NEP-ALL-2005-01-16 (All new papers)
NEP-EXP-2005-01-16 (Experimental Economics)
NEP-GTH-2005-01-16 (Game Theory)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Erev, Ido & Roth, Alvin E, 1998. "Predicting How People Play Games: Reinforcement Learning in Experimental Games with Unique, Mixed Strategy Equilibria," American Economic Review, American Economic Association, vol. 88(4), pages 848-81, September. [Downloadable!] (restricted)
Arthur, W Brian, 1994. "Inductive Reasoning and Bounded Rationality," American Economic Review, American Economic Association, vol. 84(2), pages 406-11, May. [Downloadable!] (restricted)

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Kets, W., 2007. "The Minority Game: An Economics Perspective," Discussion Paper 2007-53, Tilburg University, Center for Economic Research. [Downloadable!]
Other versions:
- Willemien Kets, 2007. "The minority game: An economics perspective," Quantitative Finance Papers 0706.4432, arXiv.org. [Downloadable!]
John Hartman, 2007. "A Route Choice Experiment With an Efficient Toll," University of California at Santa Barbara, Economics Working Paper Series 14-07, Department of Economics, UC Santa Barbara. [Downloadable!]
John Hartman, 2007. "The Relevance of Heterogeneity in a Congested Route Network with Tolls: An Analysis of Two Experiments Using Actual Waiting Times and Monetized Time Costs," University of California at Santa Barbara, Economics Working Paper Series 15-07, Department of Economics, UC Santa Barbara. [Downloadable!]

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