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...

We mathematize El Farol bar problem and transform it into a workable model. We find general conditions under which the convergence of the average attendance to the resource level is trivial and does not even require any intelligence on the side of agents. Secondly, specializing to a particular...

A finite memory is introduced in the score dynamics of Minority Games. As expected, this removes the dependence of the stationary state on the initial conditions. However, it also causes an unexpected increase of fluctuations in grand-canonical models for very large times. Current analytical...

We mathematize El Farol bar problem and transform it into a workable model. We find general conditions on the predictor space under which the convergence of the average attendance to the resource level does not require any intelligence on the side of the agents. Secondly, specializing to a...