Structure-preserving desynchronization of minority games

DOI10.1140/EPJB/E2009-00312-3MaRDI QIDQ977782zbMATH OpenOpenAlexFDO

Authors J. Martínez

Publication date 23 June 2010

Published in The European Physical Journal B. Condensed Matter and Complex Systems (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/0901.2078

zbMATH Keywords

econophysicsfinancial marketsbusiness and management

Mathematics Subject Classification ID

Noncooperative games (91A10) Applications of statistical and quantum mechanics to economics (econophysics) (91B80)

Abstract: Perfect synchronicity in $N$-player games is a useful theoretical dream, but communication delays are inevitable and may result in asynchronous interactions. Some systems such as financial markets are asynchronous by design, and yet most theoretical models assume perfectly synchronized actions. We propose a general method to transform standard models of adaptive agents into asynchronous systems while preserving their global structure under some conditions. Using the Minority Game as an example, we find that the phase and fluctuations structure of the standard game subsists even in maximally asynchronous deterministic case, but that it disappears if too much stochasticity is added to the temporal structure of interaction. Allowing for heterogeneous communication speeds and activity patterns gives rise to a new information ecology that we study in details.

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Cites work

• scientific article; zbMATH DE number 2212838 (Why is no real title available?)
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Cited in

(1)

• Hierarchically organized minority games

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