The relevance of memory in minority game

Abstract

Minority Game (MG) has become a very commonly studied econophysical model in the past decade, after it was introduced in 1997. It is giving non-trivial cooperative behavior in multiple agent system, despite its simplicity. Since 1999, studies started focusing on whether the memory, which long seems believed to provide the feedback system, is essential in the game. Up till now, investigations concerning the memory in MG concluded that memory is relevant in the so-called asymmetric phase, but not the symmetric phase of the game. However, our recent study using large scale simulations (up to 3000 agents) shows that memory is actually also relevant in the symmetric phase. The fact that this was overlooked before might be due to the fact that small-scale simulations (around 100 agents) were employed in previous investigations. This suggested that the memory of the game cannot be simply damped away in most of the parameter range.