Modeling Market Mechanism with Evolutionary Games
Yi-Cheng Zhang
TL;DR
This paper discusses econophysics models, focusing on the Minority model of competition and evolution, providing an analytical solution that highlights key features without heavy mathematics.
Contribution
It offers an analytical solution to the Minority model, enhancing understanding of its key features in econophysics.
Findings
Analytical solution to the Minority model
Insights into competition and evolution dynamics
Highlights key features without complex mathematics
Abstract
This is an essay solicited by Europhysics News, published in its March/April 1998 issue with slight modifications. We outline some highlights of the econophysics models, especially the so-called Minority model of competition and evolution. Even without the usual math, this essay offers an analytical solution to the Minority model, revealing some key features of the solution.
Peer Reviews
No public reviews on file for this paper yet. If you reviewed it on a platform where reviews are public (OpenReview, ICLR, NeurIPS, ICML), you can paste yours below so the community can read it here.
Videos
No videos yet. Explain this paper in a talk, walkthrough, or lecture? Add one.
Taxonomy
TopicsComplex Systems and Time Series Analysis · Economic theories and models · Innovation Diffusion and Forecasting