Evolutionary dynamics and the phase structure of the minority game

Abstract

A simple scheme, when applied in the evolutionary minority game (MG), changes the phase structure of the game was proposed. In the evolutionary MG game the agent becomes bankrupted and is replaced whenever its accumulated wealth is below a given threshold. A crowd-anticrowd theory for understanding the effect of evolution in the MG was suggested. It was found that herding behavior was disappeared when the memory length was small, and the Savit curve obtained was significantly different from that of the original MG.