National Center for Nuclear Research (NCBJ) scientists are conducting research that could lead to the development of a field of mathematics focused on the theory of minority games.
Minority games can be used to model social behavior patterns and reactions to financial markets, to optimize utilization of power distribution networks, and to analyze and manage road traffic. "Results obtained in many computer simulations done by us are not just interesting; we have also found some analytical expression to describe them," says NCBJ professor Wojciech Wislicki.
Contrary to classical games, in minority games players do not know everything about the game and are reasoning inductively on the basis of their experience, a situation that more closely resembles reality. "The rules seem simple, but behavior of many agents governed by the rules exhibits very complex dynamics," notes NCBJ researcher Karol Wawrzyniak.
The researchers also demonstrated how to use minority games theory to forecast winning moves by investigating the dependency of forecast accuracy on the number of participating players. They say groups in which players have transferred their individual strategies to one leader achieve the largest success.
From National Center for Nuclear Research
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