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Minority games. Interacting agents in financial markets. (English) Zbl 1053.91001
Oxford: Oxford University Press (ISBN 0-19-856640-9/hbk). xvi, 344 p. (2005).
The minority games are in their essence non-cooperative games of large number of players. Each player may choose one of two alternatives and those players who form the minority group are the winners. The numerous repetitions of the game generate a sequence of fluctuations which display also the structure of some physical phenomena. The book is divided into two parts.
The first part offers the general introduction to four main topics: the description of the main problems, the path to the analytical solution, the relationship to the financial market and some extensions of the model.
The second part includes the reprints of 27 papers (some of them by the authors of the book) whose results and methods are summarized in the chapters of the first part.
The volume is completed by an appendix explaining how to carry out the numerical simulations, and by a list of 143 references.

MSC:
91-02 Research exposition (monographs, survey articles) pertaining to game theory, economics, and finance
91A10 Noncooperative games
91B62 Economic growth models
00B60 Collections of reprinted articles
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