The minority game with incomplete strategies
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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Volume (Year): 379 (2007)
Issue (Month): 2 ()
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- Caridi, Inés & Ceva, Horacio, 2004. "The Minority Game with interactions," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 339(3), pages 574-582.
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- 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.
- 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.
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