Mixed population Minority Game with generalized strategies

P Jefferies, M Hart, N F Johnson, P M Hui
2000 Journal of Physics A: Mathematical and General  
We present a quantitative theory, based on crowd effects, for the market volatility in a Minority Game played by a mixed population. Below a critical concentration of generalized strategy players, we find that the volatility in the crowded regime remains above the random coin-toss value regardless of the "temperature" controlling strategy use. Our theory yields good agreement with numerical simulations.
doi:10.1088/0305-4470/33/43/101 fatcat:wq2ocom7mrbhdo4vcoysraswra