| Reviews |
| - 'The book will be useful beyond economics, the philosophy of economics, and the philosophy of physics since it deals in an elementary way with issues of modelling. Therefore, I recommend it as much to philosophers of sciences (looking for some novel case studies and examples) as to philosophers of physics.' - Studies in History and Philosophy of Modern Physics 38
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| Description | | - Easily accessible introduction to Minority Games by pioneers of the field
- Very suitable as introductory book for advanced undergraduate and graduate courses
- Includes sample source code of the Minority Game along with tutorial advice
- Emphasis on practical insights, written in a non-technical style
- Includes reprints of most readable and influential primary publications
| | The Minority Game is a physicist's attempt to explain market behaviour by the interaction between traders. With a minimal set of ingredients and drastic assumptions, this model reproduces market ecology among different types of traders. Its emphasis is on speculative trading and information flow. The book first describes the philosophy lying behind the conception of the Minority Game in 1997,
and includes in particular a discussion about the El Farol bar problem. Then it reviews the main steps in later developments, including both the theory and its applications to market phenomena. This book gives a colourful and stylized, but also realistic picture of how financial markets operate. |
Readership: Physicists, mathematicians, economists, financial practitioners. Graduate and undergraduate students. People interested in the dynamics of financial markets and agent-based models.
| Contents |
1.
Introduction
2.
Early works
3.
Understanding the Minority Games dynamics
4.
Minority Games as market models
5.
Quest for better cooperation
A.
Selected publications
B.
Source code
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| Authors, editors,
and contributors |
Damien Challet, Mathematical Institute, Oxford University,
Matteo Marsili, ICTP, Trieste, and
Yi-Cheng Zhang, Department of Physics, University of Fribourg
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The specification in this catalogue, including without
limitation price, format, extent, number of illustrations,
and month of publication, was as accurate as
possible at the time the catalogue was compiled.
Occasionally, due to the nature of some contractual restrictions, we
are unable to ship a specific product to a particular territory.
Jacket images are provisional and liable to change before publication.
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