The Interactive Minority Game: a Web-based investigation of human market interactions
| dc.creator | Laureti, Paolo | |
| dc.creator | Ruch, Peter | |
| dc.creator | Wakeling, Joseph | |
| dc.creator | Zhang, Yi-Cheng | |
| dc.date | 2003-09-09 | |
| dc.date | 2003-11-05 | |
| dc.date.accessioned | 2026-07-07T05:34:56Z | |
| dc.date.available | 2026-07-07T05:34:56Z | |
| dc.description | The unprecedented access offered by the World Wide Web brings with it the potential to gather huge amounts of data on human activities. Here we exploit this by using a toy model of financial markets, the Minority Game (MG), to investigate human speculative trading behaviour and information capacity. Hundreds of individuals have played a total of tens of thousands of game turns against computer-controlled agents in the Web-based_Interactive Minority Game_. The analytical understanding of the MG permits fine-tuning of the market situations encountered, allowing for investigation of human behaviour in a variety of controlled environments. In particular, our results indicate a transition in players' decision-making, as the markets become more difficult, between deductive behaviour making use of short-term trends in the market, and highly repetitive behaviour that ignores entirely the market history, yet outperforms random decision-making. PACS: 02.50.Le; 89.65.Gh; 89.70.+c Keywords: Decision theory and game theory; Economics and financial markets; Information theory | |
| dc.description | 11 pages, 1 table, 5 figures. This replacement contains a few small corrections made during publication | |
| dc.identifier | https://arxiv.org/abs/nlin/0309033 | |
| dc.identifier | http://arxiv.org/abs/nlin/0309033 | |
| dc.identifier | Physica A 331 (2004) 651-659 | |
| dc.identifier | doi:10.1016/j.physa.2003.07.002 | |
| dc.identifier.uri | http://salesiana.dossiersoluciones.com/handle/123456789/80557 | |
| dc.subject | Adaptation and Self-Organizing Systems | |
| dc.subject | Statistical Mechanics | |
| dc.subject | Human-Computer Interaction | |
| dc.subject | Physics and Society | |
| dc.title | The Interactive Minority Game: a Web-based investigation of human market interactions | |
| dc.type | text |