Statistical Mechanics of Systems with Heterogeneous Agents: Minority Games
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- 21 February 2000
- journal article
- research article
- Published by American Physical Society (APS) in Physical Review Letters
- Vol. 84 (8) , 1824-1827
- https://doi.org/10.1103/physrevlett.84.1824
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 analytical findings.Keywords
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