arXiv subjects

Pak Ming Hui

Publications and source records attributed to Pak Ming Hui.

23 records · Page 2Linked to original sources

arXiv2004

Theory of Collective Dynamics in Multi-Agent Complex Systems

We discuss a crowd-based theory for describing the collective behavior in Complex Systems comprising multi-agent populations competing for a limited resource. These systems -- whose binary versions we refer to as B-A-R (Binary Agent Resource) systems -- have a dynamical evolution which is determined by the aggregate action of the heterogeneous, adaptive agent population. Accounting for the strong correlations between agents' strategies, yields an accurate analytic description of the system's dynamics.

cond-mat.stat-mech↗

arXiv2003

Crowd-Anticrowd Theory of Collective Dynamics in Competitive, Multi-Agent Populations and Networks

We discuss a crowd-based theory for describing the collective behavior in a generic multi-agent population which is competing for a limited resource. These systems -- whose binary versions we refer to as B-A-R (Binary Agent Resource) collectives -- have a dynamical evolution which is determined by the aggregate action of the heterogeneous, adaptive agent population. Accounting for the strong correlations between agents' strategies, yields an accurate description of the system's dynamics in terms of a 'Crowd-Anticrowd' theory. This theory can incorporate the effects of an underlying network within the population. Most importantly, its applicability is not just limited to the El Farol Problem and the Minority Game. Indeed, the Crowd-Anticrowd theory offers a powerful approach to tackling the dynamical behavior of a wide class of agent-based Complex Systems, across a range of disciplines. With this in mind, the present working paper is written for a general multi-disciplinary audience within the Complex Systems community.

cond-mat.dis-nn↗

arXiv1999

Trader dynamics in a model market

We explore various extensions of Challet and Zhang's Minority Game in an attempt to gain insight into the dynamics underlying financial markets. First we consider a heterogeneous population where individual traders employ differing `time horizons' when making predictions based on historical data. The resulting average winnings per trader is a highly non-linear function of the population's composition. Second, we introduce a threshold confidence level among traders below which they will not trade. This can give rise to large fluctuations in the `volume' of market participants and the resulting market `price'.

cond-mat↗

arXiv1999

Self-Organized Segregation within an Evolving Population

An evolving population, in which individual members (`agents') adapt their behaviour according to past experience, is of central importance to many disciplines. Because of their limited knowledge and capabilities, agents are forced to make decisions based on inductive, rather than deductive, thinking. We show that a population of competing agents with similar capabilities and knowledge will tend to self-segregate into opposing groups characterized by extreme behavior. Cautious agents perform poorly and tend to become rare.

cond-mat↗

arXiv1998

Crowd effects and volatility in a competitive market

We present analytic and numerical results for two models, namely the minority model and the bar-attendance model, which offer simple paradigms for a competitive marketplace. Both models feature heterogeneous agents with bounded rationality who act using inductive reasoning. We find that the effects of crowding are crucial to the understanding of the macroscopic fluctuations, or `volatility', in the resulting dynamics of these systems.

cond-mat↗