In this paper we present results and analyses of a class of games in which heterogeneous agents are rewarded for being in a minority group. Each agent possesses a number of fixed strategies each of which are predictors of the next minority group. The strategies use a set of aggregate, publicly...

In this paper, we present a simple stock market model (the market game) which incorporates, as ab initio dynamics delayed majority dynamics, according to which agents (with heterogeneous strategies and price expectations) are rewarded if their actions at time t are the actions of the majority of...

In many social and biological systems, agents compete for limited resources over an extended, connected network, but at any moment compete for resources semi-locally using incomplete, private information. To understand such systems, it is important to understand the nature of competition for...

In this paper, we study a class of games that are generalizations of the minority game, and model, more generally, systems in which agents compete for a scarce resource. In particular, we study a set of games in which the demand and supply of the resource are specified independently. This allows...

In the standard minority game, each agent in the minority group receives the same payoff regardless of the size of the minority group. Of great interest for real social and biological systems are cases in which the payoffs to members of the minority group depend on the size of the minority...

In this paper we study the minority game in the presence of evolution. In particular, we examine the behavior in games in which the dimension of the strategy space, m, is the same for all agents and fixed for all time. We find that for all values of m, not too large, evolution results in a...

We continue our study of evolution in minority games by examining games in which agents with poorly performing strategies can trade in their strategies for new ones from a different strategy space. In the context of the games discussed in this paper, this means allowing for strategies that use...