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Introduction

  • Bikas K. ChakrabartiEmail author
  • Arnab Chatterjee
  • Asim Ghosh
  • Sudip Mukherjee
  • Boaz Tamir
Chapter
  • 334 Downloads
Part of the New Economic Windows book series (NEW)

Abstract

Collective learning in the context of binary choice for a community sharing past knowledge and intending to be in the minority choice side in successive attempts had been modeled by Arthur [6]. The model, called El Farol Bar problems, is defined as follows: A fixed number of people want to go to the Bar in every Thursday evening (special musical attraction). However the bar is small, and it is no fun to go there when it is too crowded. The preferences of the population are described as follows: If ‘less than \(60\%\) of the population’ go to the bar, people coming to the bar would feel better than if they stayed at home. If more than that fraction of population go to the bar, they would feel uncomfortable and would repent that they did not stay back at home. Everyone has to decide ‘at the same time’ on each Thursday evening, whether he or she will go to the bar or not; they cannot of course wait to see how many others intend go to the bar before deciding to go himself or herself on every Thursday evening.

Keywords

Thursday Evening Minority Game (MG) Kolkata Paise Restaurant Problem (KPR) Stochastic Scheme Fractional Utilization 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  • Bikas K. Chakrabarti
    • 1
    • 2
    Email author
  • Arnab Chatterjee
    • 1
    • 3
  • Asim Ghosh
    • 4
    • 5
  • Sudip Mukherjee
    • 6
    • 1
  • Boaz Tamir
    • 7
    • 8
  1. 1.Condensed Matter Physics DivisionSaha Institute of Nuclear PhysicsKolkataIndia
  2. 2.Economic Research UnitIndian Statistical InstituteKolkataIndia
  3. 3.TCS Innovation LabsDelhiIndia
  4. 4.Department of Computer ScienceAalto University School of ScienceEspooFinland
  5. 5.Raghunathpur CollegePuruliaIndia
  6. 6.Department of PhysicsBarasat Government CollegeKolkataIndia
  7. 7.Department of Science Technology and Society, Faculty of Interdisciplinary StudiesBar-Ilan UniversityRamat-GanIsrael
  8. 8.Iyar, The Israeli Institute for Advanced ResearchZikhron YaakovIsrael

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