Failsafe modes in incomplete minority game

We make a failsafe extension to the incomplete minority game model, give a brief analysis on how incompleteness will effect system efficiency. Simulations that limited incompleteness in strategies can improve the system efficiency. Among three failsafe modes, the “Back-to-Best” mode brings most sign...

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Bibliographic Details
Published in:Physica A 2009-09, Vol.388 (18), p.3892-3900
Main Authors: Yao, Xiaobo, Wan, Shaolong, Chen, Wen
Format: Article
Language:English
Subjects:
Failsafe
Incomplete strategy
Minority game
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Summary:We make a failsafe extension to the incomplete minority game model, give a brief analysis on how incompleteness will effect system efficiency. Simulations that limited incompleteness in strategies can improve the system efficiency. Among three failsafe modes, the “Back-to-Best” mode brings most significant improvement and keeps the system efficiency in a long range of incompleteness. A simple analytic formula has a trend which matches simulation results. The IMMG model is used to study the effect of distribution, and we find that there is one junction point in each series of curves, at which system efficiency is not influenced by the distribution of incompleteness. When p I ¯ > p I ¯ c the concentration of incompleteness weakens the effect. On the other side of p I ¯ c , concentration will be helpful. When p I is close to zero agents using incomplete strategies have on average better profits than those using standard strategies, and the “Back-to-Best” agents have a wider range of p I to win.
ISSN:0378-4371
1873-2119
DOI:10.1016/j.physa.2009.06.016