Econophysics of the Kolkata Restaurant Problem and Related Games: Classical and Quantum Strategies for Multi-agent, Multi-choice Repetitive Games

Description

This book provides the first comprehensive introduction to multi-agent, multi-choice repetitive games, such as the Kolkata Restaurant Problem and the Minority Game. It explains how the tangible formulations of these games, using stochastic strategies developed by statistical physicists employing both classical and quantum physics, have led to very efficient solutions to the problems posed. Further, it includes sufficient introductory notes on information-processing strategies employing both classical statistical physics and quantum mechanics. Games of this nature, in which agents are presented with choices, from among which their goal is to make the minority choice, offer effective means of modeling herd behavior and market dynamics and are highly relevant to assessing systemic risk. Accordingly, this book will be of interest to economists, physicists, and computer scientists alike. Front Matter....Pages i-xi Introduction....Pages 1-6 Kolkata Paise Restaurant Problem....Pages 7-15 Phase Transition in the Kolkata Paise Restaurant Problem....Pages 17-29 Zipf’s Law from Kolkata Paise Restaurant Problem....Pages 31-42 Minority Game and Kolkata Paise Restaurant Problem....Pages 43-54 From Classical Games, the Kokata Paise Restuarant Game, to Quantum Games....Pages 55-103 Some Recent Developments: A Brief Discussion....Pages 105-111 Back Matter....Pages 113-208