Generalized strategies in the minority game.
We show analytically how the fluctuations (i.e., standard deviation sigma) in the minority game can decrease below the random coin-toss limit if the agents use more general, stochastic strategies. This suppression of sigma results from a cancellation between the actions of a crowd, in which agents act collectively and make the same decision, and those of an anticrowd, in which agents act collectively by making the opposite decision to the crowd.
Hart
M
M
Physics Department, Oxford University, Oxford, OX1 3PU, United Kingdom.
Jefferies
P
P
Johnson
N F
NF
Hui
P M
PM