Similar Search Results

Minority Game of price promotions in fast moving consumer goods markets

Groot, Robert D.; Musters, Pieter A.D. - In: Physica A: Statistical Mechanics and its Applications 350 (2005) 2, pp. 533-547

A variation of the Minority Game has been applied to study the timing of promotional actions at retailers in the fast moving consumer goods market. The underlying hypotheses for this work are that price promotions are more effective when fewer than average competitors do a promotion, and that a...

Persistent link: https://www.econbiz.de/10010589770

Toward a theory of local resource competition: the minority game with private information

Li, Yi; Savit, Robert - In: Physica A: Statistical Mechanics and its Applications 335 (2004) 1, pp. 217-239

In many social and biological systems, agents compete for limited resources over an extended, connected network, but at any moment compete for resources semi-locally using incomplete, private information. To understand such systems, it is important to understand the nature of competition for...

Persistent link: https://www.econbiz.de/10010589873

Stochastic decision-making in the minority game

Sherrington, D.; Coolen, A.C.C.; Heimel, J.A.F. - In: Physica A: Statistical Mechanics and its Applications 314 (2002) 1, pp. 83-91

simulational and analytic results are reported and discussed for both additive and multiplicative noise. As a function of the ratio … ergodic phase. For additive noise the critical dc is temperature-independent but for multiplicative noise dc(T) decreases with … T. Additive noise does not affect the asymptotic behaviour for d>dc but is relevant below dc. Multiplicative noise has …

Persistent link: https://www.econbiz.de/10010590545

The minority game: A statistical physics perspective

Sherrington, David - In: Physica A: Statistical Mechanics and its Applications 370 (2006) 1, pp. 7-11

A brief review is given of the minority game, an idealized model stimulated by a market of speculative agents, and its complex many-body behaviour. Particular consideration is given to analytic results for the model rather than discussions of its relevance in real-world situations.

Persistent link: https://www.econbiz.de/10010591114

Statistical physics of induced correlation in a simple market

Sherrington, David; Moro, Esteban; Garrahan, Juan Pedro - In: Physica A: Statistical Mechanics and its Applications 311 (2002) 3, pp. 527-535

A simple model for the collective behaviour of diverse speculative agents in a competitive market is considered from the point of view of statistical physics. The only information about other agents available to any one is the total trade effected at each time-step. Evidence is presented for...

Persistent link: https://www.econbiz.de/10010591488

Response of double-auction markets to instantaneous Selling–Buying signals with stochastic Bid–Ask spread

Ibuki, Takero; Inoue, Jun-ichi - In: Journal of Economic Interaction and Coordination 6 (2011) 2, pp. 93-120

Persistent link: https://www.econbiz.de/10009324928

A stochastic strategy for the minority game

Reents, G.; Metzler, R.; Kinzel, W. - In: Physica A: Statistical Mechanics and its Applications 299 (2001) 1, pp. 253-261

We present a new strategy for the Minority Game. Players who were successful in the previous timestep stay with their decision, while the losers change their decision with a probability p. Analytical results for different regimes of p and the number of players N are given and connections to...

Persistent link: https://www.econbiz.de/10011059329

Diversity of scales makes an advantage: The case of the Minority Game

Pištěk, Miroslav; Slanina, František - In: Physica A: Statistical Mechanics and its Applications 390 (2011) 13, pp. 2549-2561

We use the Minority Game as a testing frame for the problem of the emergence of diversity in socio-economic systems. For the MG with heterogeneous impacts, we show that the direct generalisation of the usual agents’ profit does not fit some real-world situations. As a typical example we use...

Persistent link: https://www.econbiz.de/10011062131

Score-dependent payoffs and Minority Games

Ren, F.; Zheng, B.; Qiu, T.; Trimper, S. - In: Physica A: Statistical Mechanics and its Applications 371 (2006) 2, pp. 649-657

Payoffs which depend on the scores of the strategies are introduced into the standard Minority Game (MG). The double-periodicity behavior of the standard model is consequently removed, and stylized facts arise, such as long-range volatility correlations and “fat-tails” of the probability...

Persistent link: https://www.econbiz.de/10011063740

Statistical analysis of the evolutionary minority game with different capacities

Zhang, Yu-Xia; Zou, Xian-Wu; Jin, Zhun-Zhi - In: Physica A: Statistical Mechanics and its Applications 387 (2008) 16, pp. 4319-4326

In this paper we consider the evolutionary minority game with different capacities. With the increase of capacity level ρ1, the probability γn of room1 with n agents changes from one normal distribution to two normal distributions and back to one normal distribution again. When room2 is the...

Persistent link: https://www.econbiz.de/10011057278