Showing 1 - 3 of 3
Starting from the Minority Game and building more and more sophisticated models of adaptive agents, we show that minority mechanisms underly any model where agents learn collectively a resource level that can be either obvious and constant in time, obvious and time-varying, or hidden.
Persistent link: https://www.econbiz.de/10010589021
We mathematize El Farol bar problem and transform it into a workable model. We find general conditions on the predictor space under which the convergence of the average attendance to the resource level does not require any intelligence on the side of the agents. Secondly, specializing to a...
Persistent link: https://www.econbiz.de/10010591139
We mathematize El Farol bar problem and transform it into a workable model. We find general conditions under which the convergence of the average attendance to the resource level is trivial and does not even require any intelligence on the side of agents. Secondly, specializing to a particular...
Persistent link: https://www.econbiz.de/10005118558