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Cascades of dynamical transitions in an adaptive population

Authors Yang, H.M. HKUST affiliated (currently or previously)
Ting, Y.S.
Wong, K. Y. Michael View this author's profile
Issue Date 2007
Source JOURNAL OF THE KOREAN PHYSICAL SOCIETY , v. 50, (1, Part 1 Sp. Iss. SI), 2007, JAN, p. 295-299
Summary In an adaptive population that 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, more agents tend to adapt their strategies together. 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, which is supported by good agreement between simulations and theory. Besides, the signal of the largest step size at steady state is likely to be the initial signal.
ISSN 0374-4884
Language English
Format Article
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