This work presents experimental results on a coordination game in which agents must repeatedly choose between two sides, and a positive fixed payoff is assigned only to agents who pick the minoritarian side. We conduct laboratory experiments in which stationary groups of five players play the...

We investigate different versions of the minority game, a toy model for agents buying and selling a commodity. The Hamming distance between the strategies used by agents to make decisions is introduced as an analytical tool to determine several properties of these models. The success rate of the...

In minority games, players in a group must decide at each round which of two available options to choose, knowing that only subjects who picked the minority option obtain a positive reward. Previous experiments on the minority and similar congestion games have shown that players interacting...

We report experimental and theoretical results on the minority of three-game where three players have to choose one of two alternatives independently and the most rewarding alternative is the one chosen by a single player. This coordination game has many asymmetric equilibria in pure strategies...

In the first part of this review, we survey the known analytic results regarding the non-ergodic phase of standard Minority Games. Such phases are characterized by the fact that, at odds with ergodic regimes, the steady state properties of the game (e.g. the volatility) depend both on the...

In this paper we consider the evolutionary minority game with different capacities. With the increase of capacity level ρ1, the probability γn of room1 with n agents changes from one normal distribution to two normal distributions and back to one normal distribution again. When room2 is the...

We make a failsafe extension to the incomplete minority game model, give a brief analysis on how incompleteness will effect system efficiency. Simulations that limited incompleteness in strategies can improve the system efficiency. Among three failsafe modes, the “Back-to-Best” mode brings...

We designed and conducted an experiment to see how people play the standard minority game. The experiment was conducted at the computer lab, using a special software, with a group of 15 students. Collected informations comprise individual choices and individual wealth after each time step. The...

We propose an analytically tractable variation of the minority game in which rational agents use probabilistic strategies. In our model, N agents choose between two alternatives repeatedly, and those who are in the minority get a pay-off 1, others zero. The agents optimize the expectation value...

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...