Challet, Damien; Marsili, Matteo; Zhang, Yi-Cheng - In: Physica A: Statistical Mechanics and its Applications 294 (2001) 3, pp. 514-524
We present and study a Minority Game based model of a financial market where adaptive agents—the speculators—interact with deterministic agents—called producers. Speculators trade only if they detect predictable patterns which grant them a positive gain. Indeed the average number of active...