Research Article Details

Article ID: A38537
PMID: 11017635
Source: Phys Rev Lett
Title: 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 analytical findings.
DOI: 10.1103/PhysRevLett.84.1824