Crowd effects and volatility in a competitive market

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dc.creatorJohnson, Neil F.
dc.creatorHart, Michael
dc.creatorHui, Pak Ming
dc.date1998-11-16
dc.date.accessioned2026-07-07T03:12:06Z
dc.date.available2026-07-07T03:12:06Z
dc.descriptionWe present analytic and numerical results for two models, namely the minority model and the bar-attendance model, which offer simple paradigms for a competitive marketplace. Both models feature heterogeneous agents with bounded rationality who act using inductive reasoning. We find that the effects of crowding are crucial to the understanding of the macroscopic fluctuations, or `volatility', in the resulting dynamics of these systems.
dc.description13 pages + 3 figures. E-mail: n.johnson@physics.oxford.ac.uk
dc.identifierhttps://arxiv.org/abs/cond-mat/9811227
dc.identifierhttp://arxiv.org/abs/cond-mat/9811227
dc.identifier.urihttp://salesiana.dossiersoluciones.com/handle/123456789/28778
dc.subjectCondensed Matter
dc.subjectAdaptation and Self-Organizing Systems
dc.titleCrowd effects and volatility in a competitive market
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