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Score-dependent payoffs and Minority Games

โœ Scribed by F. Ren; B. Zheng; T. Qiu; S. Trimper

Publisher
Elsevier Science
Year
2006
Tongue
English
Weight
240 KB
Volume
371
Category
Article
ISSN
0378-4371

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โœฆ Synopsis

Payoffs which depend on the scores of the strategies are introduced into the standard Minority Game (MG). The double-periodicity behavior of the standard model is consequently removed, and stylized facts arise, such as long-range volatility correlations and ''fat-tails'' of the probability distribution of the returns. Furthermore, the score-dependent payoffs could coexist with the inactive strategy in the grand canonical MG, and play an important role in the thermal MG.

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