Competition, efficiency and collective behavior in the "El Farol" bar model

Details Competition, efficiency and collective behavior in the "El Farol" bar model Competition, efficiency and collective behavior in the "El Farol" bar model

1998-11-11

arxiv.org/abs/cond-mat/9811162v2

The European Physical Journal B 10, 187 (1999)

Physics

Condensed Matter

Statistical Mechanics

7 pages Latex, 7 Postscript figures; changed reference, acknowledgments included. Accepted for publication in Europen Physics

Scientific paper

10.1007/s100510050843

The El Farol bar model, proposed to study the dynamics of competition of agents in a variety of contexts (W. B. Arthur, Amer. Econ. Assoc. Pap. and Proc. 84, 406 (1994)) is studied. We characterize in detail the three regions of the phase diagram (efficient, inefficient and better than random) of the simplest version of the model (D. Challet and Y.-C. Zhang, Physica A, 246, 407 (1997)). The efficient region is shown to have a rich structure, which is investigated in some detail. Changes in the payoff function enhance further the tendency of the model towards a wasteful distribution of resources.

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