Strategy bifurcation and spatial inhomogeneity in a simple model of competing sellers

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dc.creatorMitchell, L.
dc.creatorAckland, G. J.
dc.date2007-03-15
dc.date2007-04-03
dc.date.accessioned2026-07-07T12:07:57Z
dc.date.available2026-07-07T12:07:57Z
dc.descriptionWe present a simple one-parameter model for spatially localised evolving agents competing for spatially localised resources. The model considers selling agents able to evolve their pricing strategy in competition for a fixed market. Despite its simplicity, the model displays extraordinarily rich behavior. In addition to ``cheap'' sellers pricing to cover their costs, ``expensive'' sellers spontaneously appear to exploit short-term favorable situations. These expensive sellers ``speciate'' into discrete price bands. As well as variety in pricing strategy, the ``cheap'' sellers evolve a strongly correlated spatial structure, which in turn creates niches for their expensive competitors. Thus an entire ecosystem of coexisting, discrete, symmetry-breaking strategies arises.
dc.description6 pages, 6 figures, epl2; 1 new figure, include nash equilibrium analysis, typo fixes
dc.identifierhttps://arxiv.org/abs/physics/0703156
dc.identifierhttp://arxiv.org/abs/physics/0703156
dc.identifierEurophys. Lett., 79 (4) 48003 (2007)
dc.identifierdoi:10.1209/0295-5075/79/48003
dc.identifier.urihttp://salesiana.dossiersoluciones.com/handle/123456789/209150
dc.subjectPhysics and Society
dc.subjectTrading and Market Microstructure
dc.titleStrategy bifurcation and spatial inhomogeneity in a simple model of competing sellers
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