Statistical mechanics of systems with heterogeneous agents: Minority Games

Details Statistical mechanics of systems with heterogeneous agents: Minority Games Statistical mechanics of systems with heterogeneous agents: Minority Games

1999-04-27

arxiv.org/abs/cond-mat/9904392v2

Phys. Rev. Lett. 84, 1824 (2000)

Physics

Condensed Matter

Statistical Mechanics

4 pages, 1 Postscript figure. Revised version

Scientific paper

10.1103/PhysRevLett.84.1824

We study analytically a simple game theoretical model of heterogeneous interacting agents. We show that the stationary state of the system is described by the ground state of a disordered spin model which is exactly solvable within the simple replica symmetric ansatz. Such a stationary state differs from the Nash equilibrium where each agent maximizes her own utility. The latter turns out to be characterized by a replica symmetry broken structure. Numerical results fully agree with our analytic findings.

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