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Title: Cascades of dynamical transitions in an adaptive population
Authors: Wong, Michael Kwok-Yee
Yang, Huiming
Ting, Yim Shan
Keywords: Minority game
Dynamical transitions
Adaptive population
Linear payoff
Issue Date: Jan-2007
Citation: Journal of Korean Physical Society, v. 50, no. 1, pt. 1, Jan. 2007, p. 295-9
Abstract: In an adaptive population which models financial markets and distributed control, we consider how the dynamics depends on the diversity of the agents' initial preferences of strategies. When the diversity decreases, the magnitude of the payoffs received by the agents increase. This change in the environment results in dynamical transitions from vanishing to non-vanishing step sizes. When the diversity decreases further, we find a cascade of dynamical transitions for the different signal dimensions, supported by good agreement between simulations and theory. Besides, the signal of the largest step size at the steady state is likely to be the initial signal.
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