Minority mechanisms in models of agents learning collectively a resource level

TL;DR

This paper demonstrates that minority mechanisms are fundamental to models where adaptive agents collectively learn a resource level, regardless of whether it is constant, variable, or hidden.

Contribution

It reveals that minority mechanisms underpin a wide range of models involving collective resource learning by adaptive agents.

Findings

Minority mechanisms are central to models of collective resource learning.

The framework applies to both static and dynamic resource levels.

Hidden resource levels also involve minority mechanisms.

Abstract

Starting from the Minority Game and building more and more sophisticated models of adaptive agents, we show that minority mechanisms underly any model where agents learn collectively a resource level that can be either obvious and constant in time, obvious and time-varying, or hidden.