publication . Preprint . Article . 1999

Enhanced winnings in a mixed-ability population playing a minority game

N F Johnson; P M Hui; Dafang Zheng; M Hart;
Open Access English
  • Published: 10 Mar 1999
Abstract
We study a mixed population of adaptive agents with small and large memories, competing in a minority game. If the agents are sufficiently adaptive, we find that the average winnings per agent can exceed that obtainable in the corresponding pure populations. In contrast to the pure population, the average success rate of the large-memory agents can be greater than 50 percent. The present results are not reproduced if the agents are fed a random history, thereby demonstrating the importance of memory in this system.
Subjects
free text keywords: Condensed Matter, Nonlinear Sciences - Adaptation and Self-Organizing Systems, Mathematical Physics, General Physics and Astronomy, Statistical and Nonlinear Physics, Adaptive agents, Population, education.field_of_study, education, Mathematical economics, Mathematical analysis, Minority game, Physics
Related Organizations

[1] See, for example, J.H. Holland, Emergence (Oxford University Press, Oxford, 1998).

[3] R. Savit, R. Manuca and R. Riolo, adap-org/9712006; R. Manuca, Y. Li, R. Riolo and R. Savit, adap-org/9811005.

[4] N.F. Johnson, M. Hart and P. M. Hui, Physica A (in press). See also cond-mat/9811227.

[5] M.A.R. de Cara, O. Pla and F. Guinea, cond-mat/9811162.

[9] W.B. Arthur, Amer. Econ. Assoc. Papers and Proc. 84, 406 (1994).

[10] N.F. Johnson, S. Jarvis, R. Jonson, P. Cheung, Y.R. Kwong and P.M. Hui, Physica A 256, 230 (1998).

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publication . Preprint . Article . 1999

Enhanced winnings in a mixed-ability population playing a minority game

N F Johnson; P M Hui; Dafang Zheng; M Hart;