| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 9727925 | Physica A: Statistical Mechanics and its Applications | 2005 | 9 Pages |
Abstract
We study an economic model where agents trade a variety of products by using one of the three competing rules: “need”, “greed” and “noise”. We find that the optimal strategy for any agent depends on both product composition in the overall market and composition of strategies in the market. In particular, a strategy that does best on pairwise competition may easily do much worse when all are present, leading, in some cases, to a “paper, stone, scissors” circular hierarchy.
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
R. Donangelo, A. Hansen, K. Sneppen, S.R. Souza,