Structure-preserving desynchronization of minority games

Abstract

Perfect synchronicity in $N$-player games is a useful theoretical dream, but communication delays are inevitable and may result in asynchronous interactions. Some systems such as financial markets are asynchronous by design, and yet most theoretical models assume perfectly synchronized actions. We propose a general method to transform standard models of adaptive agents into asynchronous systems while preserving their global structure under some conditions. Using the Minority Game as an example, we find that the phase and fluctuations structure of the standard game subsists even in maximally asynchronous deterministic case, but that it disappears if too much stochasticity is added to the temporal structure of interaction. Allowing for heterogeneous communication speeds and activity patterns gives rise to a new information ecology that we study in details.

6 pages, 7 figures. New version removed a section and found a new phase transition

References in corpus (5)

• The Local Minority Game
• Limit order placement as an utility maximization problem and the origin of power law distribution of limit order prices
• Generating functional analysis of Minority Games with real market histories
• Dynamical instabilities in a simple minority game with discounting
• On the transition to efficiency in Minority Games

Cited by in corpus (1)

• Statistical Mechanics of Competitive Resource Allocation using Agent-based Models