Dynamics of multi-frequency minority games

Details Dynamics of multi-frequency minority games Dynamics of multi-frequency minority games

2003-06-19

arxiv.org/abs/cond-mat/0306507v1

Eur. Phys. J. B 35 143 (2003)

Physics

Condensed Matter

Disordered Systems and Neural Networks

9 pages, 5 figures

Scientific paper

10.1140/epjb/e2003-00265-5

The dynamics of minority games with agents trading on different time scales is studied via dynamical mean-field theory. We analyze the case where the agents' decision-making process is deterministic and its stochastic generalization with finite heterogeneous learning rates. In each case, we characterize the macroscopic properties of the steady states resulting from different frequency and learning rate distributions and calculate the corresponding phase diagrams. Finally, the different roles played by regular and occasional traders, as well as their impact on the system's global efficiency, are discussed.

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