Dresden 2006 – scientific programme

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AKSOE: Physik sozio-ökonomischer Systeme

AKSOE 6: Economic Models and Evolutionary Game Theory I

AKSOE 6.5: Talk

Tuesday, March 28, 2006, 12:15–12:45, BAR 205

The remarkable effects of a finite score memory in Minority Games — •Andrea De Martino — CNR-ISC, INFM-SMC, Dipartimento di Fisica, Universita’ di Roma No-dqLa SapienzaNo-dq, p.le A. Moro 2, 00185 Roma (Italy)

Introducing a finite score memory in Minority Games leads to substantial changes in both the static and the dynamical picture of the model. As expected, the dependence of the stationary state on the initial conditions is removed (which is desirable). However, the dynamics is characterized by anomalous fluctuation outbutsts and volatility clusering. Memory also turns out to affect the emergence of stylized facts and the static properties of Minority Games in a non-trivial way. These models constitute a serious challenge for statistical physics and their characterization requires a combination of analytical and numerical techniques. We will review their phenomenology and address recent progress made in the direction of a deeper theoretical understanding of the nature of these peculiar dynamical regimes.