Minority Games

TL;DR

This paper introduces the basic Minority Game and its variants, discussing their physical properties, analytical approaches, and connections to financial markets, providing a comprehensive overview of the topic.

Contribution

It offers a simplified introduction to Minority Games, explores their variants, and discusses analytical methods and their relevance to financial market modeling.

Findings

Analysis of physical properties of Minority Games

Discussion of variants like EMG, TMG, and GCMG

Relations between Minority Games and financial markets

Abstract

We present a simple introduction to the basic Minority Game (MG) introduced by Challet and Zhang in 1997 and discuss some of its physical properties and subsequent developments. We also introduce some of its variants include the Evolutionay Minority Game (EMG), the Thermal Minority Game (TMG), the simple Minority Game without information and the Grand-canonical Minority Game (GCMG). Some analytical approaches on Minority Games and the relations of Minority Games with financial market are also briefly discussed.