Year: 2006
Type: article
Abstract: Multi-agent complex systems comprising populations of decision-making particles, have many potential applications across the biological, informational and social sciences. We show that the time-averaged dynamics in such systems bear a striking resemblance to conventional many-body physics. For the specific example of the Minority Game, this analogy enables us to obtain analytic expressions which are in excellent agreement with numerical simulations.
Source: Europhysics Letters (EPL)
Authors: N. F Johnson, D. M. D Smith, P. M Hui
Institutions: University of Oxford, Chinese University of Hong Kong
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2038311705