Minority Games
Interacting agents in financial markets
Published on 4. November 2004
Book
Hardback
360 pages
978-0-19-856640-3 (ISBN)
Description
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.
Reviews / Votes
Much of the book is devoted to examining the generalizations and extensions of the basic MG idea...essential reading for those who wish to gain a deep understanding of this idea * Dean Rickles Studies in History and Philosophy of Modern Physics * 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 *More details
Series
Language
English
Place of publication
Oxford
United Kingdom
Target group
College/higher education
Physicists, mathematicians, economists, financial practitioners. Graduate and undergraduate students. People interested in the dynamics of financial markets and agent-based models.
Illustrations
numerous line drawings
Dimensions
Height: 247 mm
Width: 174 mm
Thickness: 24 mm
Weight
735 gr
ISBN-13
978-0-19-856640-3 (9780198566403)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Damien Challet | Matteo Marsili | Yi-Cheng Zhang
Minority Games
Interacting agents in financial markets
Book
11/2013
Oxford University Press
€75.52
Shipment within 15-20 days
Damien Challet | Matteo Marsili | Yi-Cheng Zhang
Minority Games
Interacting Agents in Financial Markets
E-Book
11/2004
1st Edition
Oxford University Press
€216.24
Available for download
Persons
Damien Challet graduated as a physicist at the Swiss Institute of Technology, Lausanne, and obtained his Ph.D at Fribourg University under the supervision of Prof Yi-Cheng Zhang. He then spent three years as a postdoctoral fellow in Theoretical Physics at Oxford and is now Nomura Junior Research Fellow in Financial Mathematics, Oxford, jointly with Wadham College. He was given the Young European Scientist Award in Socio- and Econophysics in 2002.
Matteo Marsili graduated in physics at La Sapienza in Rome. Then he moved to Trieste, obtaining his Ph.D. at SISSA in 1994. Having been a researcher at the Istituto Nazionale per la Fisica della Materia in Trieste, he is now Research Scientist at the Abus Salam International Centre for Theoretical Physics.
Yi-Cheng Zhang obtained his Ph.D on particle physics in 1984 under Giorgio Parisi in Rome and then completed a two-year postdoctoral stint at Brookhaven National Lab USA (1984-1986). He was a senior researcher at Istituto Nazionale Fisica Nucleare (1986-1991). Since 1992, he has been Professor of Theoretical Physics at Fribourg University in Switzerland.
Matteo Marsili graduated in physics at La Sapienza in Rome. Then he moved to Trieste, obtaining his Ph.D. at SISSA in 1994. Having been a researcher at the Istituto Nazionale per la Fisica della Materia in Trieste, he is now Research Scientist at the Abus Salam International Centre for Theoretical Physics.
Yi-Cheng Zhang obtained his Ph.D on particle physics in 1984 under Giorgio Parisi in Rome and then completed a two-year postdoctoral stint at Brookhaven National Lab USA (1984-1986). He was a senior researcher at Istituto Nazionale Fisica Nucleare (1986-1991). Since 1992, he has been Professor of Theoretical Physics at Fribourg University in Switzerland.
Content
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