Demand outstrips available resources in most situations, which gives rise to competition, interaction and learning. In this article, we review a broad spectrum of multi-agent models of competition (El Farol Bar problem, Minority Game, Kolkata Paise Restaurant problem, Stable marriage problem,...

In market modeling, one often treats buyers as a homogeneous group. In this paper we consider buyers with heterogeneous preferences and products available in many variants. Such a framework allows us to successfully model various market phenomena. In particular, we investigate how is the...

Identifying influential nodes that lead to faster and wider spreading in complex networks is of theoretical and practical significance. The degree centrality method is very simple but of little relevance. Global metrics such as betweenness centrality and closeness centrality can better identify...

We introduce and study a dynamic transport model exhibiting Self-Organized Criticality. The novel concepts of our model are the probabilistic propagation of activity and unbiased random repartition of energy among the active site and its nearest neighbors. For space dimensionality d ≥ 2 we...

We investigate further several properties of the minority game we have recently introduced. We explain the origin of the phase transition and give an analytical expression of σ2/N in the N⪡2M region. The ability of the players to learn a given payoff is also analyzed, and we show that the...

A model of open economics composed of producers and speculators is investigated by numerical simulations. The capital flows from the environment to the producers and from them to the speculators. The price fluctuations are suppressed by the speculators. When the aggressivity of the speculators...

We introduce a new kind of Information Theory. From a finite number of local, noisy comparisons, we want to design a robust filter such that the outcome is a high ranking number. Both analytical and numerical results are encouraging and we believe our toy model has wide ranging implications in...

We present and study a Minority Game based model of a financial market where adaptive agents—the speculators—interact with deterministic agents—called producers. Speculators trade only if they detect predictable patterns which grant them a positive gain. Indeed the average number of active...

The growth-optimal portfolio optimization strategy pioneered by Kelly is based on constant portfolio rebalancing which makes it sensitive to transaction fees. We examine the effect of fees on an example of a risky asset with a binary return distribution and show that the fees may give rise to an...

We provide the probability distribution function of matrix elements each of which is the inner product of two vectors. The vectors we are considering here are independently distributed but not necessarily Gaussian variables. Let M be the number of components of each of the N vectors, one has an...