Statistical mechanics of systems with heterogeneous agents: minority games

@article{Challet2000StatisticalMO,
  title={Statistical mechanics of systems with heterogeneous agents: minority games},
  author={Challet and Marsili and Zecchina},
  journal={Physical review letters},
  year={2000},
  volume={84 8},
  pages={1824-7}
}
We study analytically a simple game theoretical model of heterogeneous interacting agents. We show that the stationary state of the system is described by the ground state of a disordered spin model which is exactly solvable within the simple replica symmetric ansatz. Such a stationary state differs from the Nash equilibrium where each agent maximizes her own utility. The latter turns out to be characterized by a replica symmetry broken structure. Numerical results fully agree with our… CONTINUE READING