Statistical mechanics of systems with heterogeneous agents: Minority Games

Abstract

We study analytically a simple game theoretical model of heterogeneous interacting agents. We show that the stationary state of the system is described by the ground state of a disordered spin model which is exactly solvable within the simple replica symmetric ansatz. Such a stationary state differs from the Nash equilibrium where each agent maximizes her own utility. The latter turns out to be characterized by a replica symmetry broken structure. Numerical results fully agree with our analytic findings.

4 pages, 1 Postscript figure. Revised version

References in corpus (1)

• Phase Transition and Symmetry Breaking in the Minority Game

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