Competition, efficiency and collective behavior in the "El Farol" bar model
Instituto de Ciencia de Materiales, Consejo Superior de Investigaciones Científicas, 28049 Madrid, Spain
Corresponding author: a firstname.lastname@example.org
Published online: 15 July 1999
The El Farol bar model, proposed to study the dynamics of competition of agents in a variety of contexts (W.B. Arthur, Amer. Econ. Assoc. Pap. Proc. 84, 406 (1994)) is studied. We characterize in detail the three regions of the phase diagram (efficient, better than random and inefficient) of the simplest version of the model (D. Challet, Y.-C. Zhang, Physica A 246, 407 (1997)). The efficient region is shown to have a rich structure, which is investigated in some detail. Changes in the payoff function enhance further the tendency of the model towards a wasteful distribution of resources.
PACS: 02.50.-r – Probability theory, stochastic processes, and statistics / 02.50.Ga – Markov processes / 05.40.-a – Fluctuation phenomena, random processes, and Brownian motion
© EDP Sciences, Società Italiana di Fisica, Springer-Verlag, 1999