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.
authors.affiliation: Institut de Physique Theorique, Universite de Fribourg, CH-1700 Fribourg, Switzerland.
authors.initials: D
authors.lastname: Challet
authors.initials: M
authors.lastname: Marsili
authors.initials: R
authors.lastname: Zecchina