Enhanced winnings in a mixed-ability population playing a minority game

Abstract

We study a mixed population of adaptive agents with small and large memories, competing in a minority game. If the agents are sufficiently adaptive, we find that the average winnings per agent can exceed that obtainable in the corresponding pure populations. In contrast to the pure population, the average success rate of the large-memory agents can be greater than 50 percent. The present results are not reproduced if the agents are fed a random history, thereby demonstrating the importance of memory in this system.

9 pages Latex + 2 figures

References in corpus (6)

• Emergence of Cooperation and Organization in an Evolutionary Game
• On the Minority Game : Analytical and Numerical Studies
• Irrelevance of memory in the minority game
• Volatility and Agent Adaptability in a Self-Organizing Market
• The Hamming Distance in the Minority Game
• Competition, efficiency and collective behavior in the "El Farol" bar model

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