Is the market really a minority game?
نویسندگان
چکیده
$-Game was recently introduced as an extension of the Minority Game. In this paper we compare this model with the well know Minority Game and the Majority Game models. Due to the inter-temporal nature of the market payoff, we introduce a two step transaction with single and mixed group of interacting traders. When the population is composed of two different group of $-traders, they show an anti-imitative behavior. However, when they interact with minority or majority players the $-population imitates the usual behavior of these players. Finally we discuss how these models contribute to clarify the market mechanism.
منابع مشابه
N ov 2 00 3 Is the market really a minority game ?
The $-Game was recently introduced as an extension of the Minority Game. In this paper we compare this model with the well know Minority Game and the Majority Game models. Due to the inter-temporal nature of the market payoff, we introduce a two step transaction with single and mixed group of interacting traders. When the population is composed of two different group of $-traders, they show an ...
متن کاملB2B electronic market analysis using game theory
In the explosive growth of Business to Business (B2B) Electronic Trades, electronic markets have received a great deal of attention recently. The obtained profit of trading in E-B2B market encourage market participants to remain in the market. Market participants consist of: sellers, buyers, and market owner. In this paper the expected profit function for each market participant has been define...
متن کاملMarket power influential approach using game theory in a two competing supply chains with multi-echelons under centralized/decentralized environments
This paper is considering the competition between two multi-echelon supply-chains on price and service under balance and imbalance of market power between the chains which are analyzing through Nash and Stackelberg game approach. The problem is categorized as the centralized or decentralized structure of each chain, which means a few different possible scenarios are developing based on the Nash...
متن کاملA game theory approach to the Iranian forest industry raw material market
Dynamic game theory is applied to analyze the timber market in northern Iran as a duopsony. The Nash equilibrium and the dynamic properties of the system based on marginal adjustments are determined. When timber is sold, the different mills use mixed strategies to give sealed bids. It is found that the decision probability combination of the different mills follow a special form of attractor an...
متن کاملBiding Strategy in Restructured Environment of Power Market Using Game Theory
In the restructured environment of electricity market, firstly the generating companies and the customers are looking for maximizing their profit and secondly independent system operator is looking for the stability of the power network and maximizing social welfare. In this paper, a one way auction in the electricity market for the generator companies is considered in both perfect and imperfec...
متن کامل