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Article: Incorporating inertia into multiagent systems

TitleIncorporating inertia into multiagent systems
Authors
KeywordsInertia
Minority games
Computer simulation
Game theory
Numerical methods
Issue Date2006
PublisherAmerican Physical Society. The Journal's web site is located at http://pre.aps.org
Citation
Physical Review E - Statistical, Nonlinear, And Soft Matter Physics, 2006, v. 73 n. 3 How to Cite?
AbstractWe consider a model that demonstrates the crucial role of inertia and stickiness in multiagent systems, based on the minority game. The inertia of an agent is introduced into the game model by allowing agents to apply hypothesis testing when choosing their best strategies, thereby reducing their reactivity toward changes in the environment. We find by extensive numerical simulations that our game shows a remarkable improvement of global cooperation throughout the whole phase space. In other words, the maladaptation behavior due to over-reaction of agents is removed. These agents are also shown to be advantageous over the standard ones, which are sometimes too sensitive to attain a fair success rate. We also calculate analytically the minimum amount of inertia needed to achieve the above improvement. Our calculation is consistent with the numerical simulation results. Finally, we review some related works in the field that show similar behaviors and compare them to our work. © 2006 The American Physical Society.
Persistent Identifierhttp://hdl.handle.net/10722/146332
ISSN
2014 Impact Factor: 2.288
2015 SCImago Journal Rankings: 0.999
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorMan, WCen_HK
dc.contributor.authorChau, HFen_HK
dc.date.accessioned2012-04-17T07:01:02Z-
dc.date.available2012-04-17T07:01:02Z-
dc.date.issued2006en_HK
dc.identifier.citationPhysical Review E - Statistical, Nonlinear, And Soft Matter Physics, 2006, v. 73 n. 3en_HK
dc.identifier.issn1539-3755en_HK
dc.identifier.urihttp://hdl.handle.net/10722/146332-
dc.description.abstractWe consider a model that demonstrates the crucial role of inertia and stickiness in multiagent systems, based on the minority game. The inertia of an agent is introduced into the game model by allowing agents to apply hypothesis testing when choosing their best strategies, thereby reducing their reactivity toward changes in the environment. We find by extensive numerical simulations that our game shows a remarkable improvement of global cooperation throughout the whole phase space. In other words, the maladaptation behavior due to over-reaction of agents is removed. These agents are also shown to be advantageous over the standard ones, which are sometimes too sensitive to attain a fair success rate. We also calculate analytically the minimum amount of inertia needed to achieve the above improvement. Our calculation is consistent with the numerical simulation results. Finally, we review some related works in the field that show similar behaviors and compare them to our work. © 2006 The American Physical Society.en_HK
dc.languageeng-
dc.publisherAmerican Physical Society. The Journal's web site is located at http://pre.aps.orgen_HK
dc.relation.ispartofPhysical Review E - Statistical, Nonlinear, and Soft Matter Physicsen_HK
dc.rightsPhysical Review E (Statistical, Nonlinear, and Soft Matter Physics). Copyright © American Physical Society.-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.subjectInertia-
dc.subjectMinority games-
dc.subjectComputer simulation-
dc.subjectGame theory-
dc.subjectNumerical methods-
dc.titleIncorporating inertia into multiagent systemsen_HK
dc.typeArticleen_HK
dc.identifier.emailChau, HF: hfchau@hku.hken_HK
dc.identifier.authorityChau, HF=rp00669en_HK
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.1103/PhysRevE.73.036106en_HK
dc.identifier.scopuseid_2-s2.0-33644752027en_HK
dc.identifier.hkuros115971-
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33644752027&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume73en_HK
dc.identifier.issue3en_HK
dc.identifier.isiWOS:000236467700015-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridMan, WC=8852796400en_HK
dc.identifier.scopusauthoridChau, HF=7005742276en_HK

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