Diversity of scales makes an advantage: The case of the Minority Game

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68378271%3A_____%2F11%3A00359554" target="_blank" >RIV/68378271:_____/11:00359554 - isvavai.cz</a>
Alternative codes found
RIV/67985556:_____/11:00359554
Result on the web
<a href="http://dx.doi.org/10.1016/j.physa.2011.03.006" target="_blank" >http://dx.doi.org/10.1016/j.physa.2011.03.006</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.physa.2011.03.006" target="_blank" >10.1016/j.physa.2011.03.006</a>

Result language
angličtina
Original language name
Diversity of scales makes an advantage: The case of the Minority Game
Original language description
We use the Minority Game as a testing frame for the problem of the emergence of diversity in socio-economic systems. For the MG with heterogeneous impacts, we show that the direct generalisation of the usual agents? profit does not fit some real-world situations. As a typical example we use the traffic formulation of the MG. Taking into account vehicles of various lengths it can easily happen that one of the roads is crowded by a few long trucks and the other contains more drivers but still is less covered by vehicles. Most drivers are in the shorter queue, so the majority win. To describe such situations, we generalised the formula for agents? profit by explicitly introducing a utility function depending on an agent?s impact. Then, the overall profitof the system may become positive depending on the actual choice of the utility function. We investigated several choices of the utility function and showed that this variant of the MG may turn into a positive sum game.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
BM - Solid-state physics and magnetism
OECD FORD branch
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Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
Z - Vyzkumny zamer (s odkazem do CEZ)

Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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