Econophysics of the Kolkata Restaurant Problem and Related Games

Bikas K. Chakrabarti, Arnab Chatterjee, Asim Ghosh, Sudip Mukherjee, Boaz Tamir

Research output: Book/ReportBookpeer-review

Abstract

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.
Original languageEnglish
Place of PublicationCham, Switzerland
PublisherSpringer
ISBN (Print)978-3-319-61351-2
DOIs
StatePublished - 2017

Keywords

  • The Kolkata Restaurant Problem
  • Classical and quantum information processing
  • Minority Game
  • Kolkata Paise Restaurant problems
  • Stochastic strategies in quantum and statistical physics
  • Agent-based models
  • data-driven science
  • modeling and theory building

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