About: Diversity of scales makes an advantage: The case of the Minority Game

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	We use the Minority Game as a testing frame for the problem of the emergence of diversity in socio-economic systems. For the MG with heterogeneous impacts, we show that the direct generalisation of the usual agents’ profit does not fit some real-world situations. As a typical example we use the traffic formulation of the MG. Taking into account vehicles of various lengths it can easily happen that one of the roads is crowded by a few long trucks and the other contains more drivers but still is less covered by vehicles. Most drivers are in the shorter queue, so the majority win. To describe such situations, we generalised the formula for agents’ profit by explicitly introducing a utility function depending on an agent’s impact. Then, the overall profit of the system may become positive depending on the actual choice of the utility function. We investigated several choices of the utility function and showed that this variant of the MG may turn into a positive sum game. We use the Minority Game as a testing frame for the problem of the emergence of diversity in socio-economic systems. For the MG with heterogeneous impacts, we show that the direct generalisation of the usual agents’ profit does not fit some real-world situations. As a typical example we use the traffic formulation of the MG. Taking into account vehicles of various lengths it can easily happen that one of the roads is crowded by a few long trucks and the other contains more drivers but still is less covered by vehicles. Most drivers are in the shorter queue, so the majority win. To describe such situations, we generalised the formula for agents’ profit by explicitly introducing a utility function depending on an agent’s impact. Then, the overall profit of the system may become positive depending on the actual choice of the utility function. We investigated several choices of the utility function and showed that this variant of the MG may turn into a positive sum game. (en)
Title	Diversity of scales makes an advantage: The case of the Minority Game Diversity of scales makes an advantage: The case of the Minority Game (en)
skos:prefLabel	Diversity of scales makes an advantage: The case of the Minority Game Diversity of scales makes an advantage: The case of the Minority Game (en)
skos:notation	RIV/68378271:_____/11:00359554!RIV12-AV0-68378271
http://linked.open...avai/riv/aktivita	P Z
http://linked.open...avai/riv/aktivity	P(GA102/08/0567), P(OC09078), Z(AV0Z10100520), Z(AV0Z10750506)
http://linked.open...iv/cisloPeriodika	13
http://linked.open...vai/riv/dodaniDat	2012
http://linked.open...aciTvurceVysledku	Slanina, František
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Fyzikální ústav AV ČR, v. v. i.
http://linked.open...dnocenehoVysledku	195035
http://linked.open...ai/riv/idVysledku	RIV/68378271:_____/11:00359554
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	Minority Game; Econophysics; Stochastic processes (en)
http://linked.open.../riv/klicoveSlovo	Econophysics Minority Game Stochastic processes
http://linked.open...odStatuVydavatele	NL - Nizozemsko
http://linked.open...ontrolniKodProRIV	[9E5E69B971D7]
http://linked.open...i/riv/nazevZdroje	Physica. A : Statistical Mechanics and its Applications
http://linked.open...in/vavai/riv/obor	BM
http://linked.open...ichTvurcuVysledku	1 (xsd:int)
http://linked.open...cetTvurcuVysledku	2 (xsd:int)
http://linked.open...vavai/riv/projekt	Fully probabilistic design of dynamic decision strategies Analysis and modelling of complex network using the methods of statistical physics
http://linked.open...UplatneniVysledku	2011
http://linked.open...v/svazekPeriodika	390
http://linked.open...iv/tvurceVysledku	Pištěk, Miroslav Slanina, František
http://linked.open...ain/vavai/riv/wos	000291136200011
http://linked.open...n/vavai/riv/zamer	Specific effects in condensed systems with reduced dimension and broken symmetry Pokročilé matematické metody získávání, zpracování a využití informací a znalostí ve složitých a nedeterministických systémech
issn	0378-4371
number of pages	12 (xsd:int)
http://bibframe.org/vocab/doi	10.1016/j.physa.2011.03.006

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