Physics – Condensed Matter – Statistical Mechanics
Scientific paper
1999-05-06
Physics
Condensed Matter
Statistical Mechanics
4 pages, 3 included figures. Some text revision and one new figure added. To appear in PRL
Scientific paper
10.1103/PhysRevLett.84.3185
A model of Boolean agents competing in a market is presented where each agent bases his action on information obtained from a small group of other agents. The agents play a competitive game that rewards those in the minority. After a long time interval, the poorest player's strategy is changed randomly, and the process is repeated. Eventually the network evolves to a stationary but intermittent state where random mutation of the worst strategy can change the behavior of the entire network, often causing a switch in the dynamics between attractors of vastly different lengths.
Bassler Kevin E.
Corral Alvaro
Paczuski Maya
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