Reply to Comment on ``Thermal Model for Adaptive Competition in a Market''

Abstract

We reply to the Comment of Challet et al. [cond-mat/0004308] on our paper [Phys. Rev. Lett. 83, 4429 (1999)]. We show that the claim of the Comment that the effects of the temperature in the Thermal Minority Game ``can be eliminated by time rescaling'' and consequently the behaviour is ``independent of T'' has no general validity.

1 page, 1 figure

References in corpus (2)

• Statistical mechanics of systems with heterogeneous agents: Minority Games
• Exact solution of a modified El Farol's bar problem: Efficiency and the role of market impact

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