Abstract
We discuss several stochastic optimization strategies in games with many players having large number of choices (Kolkata Paise Restaurant Problem) and two choices (minority game problem). It is seen that a stochastic crowd avoiding strategy gives very efficient utilization in KPR problem. A slightly modified strategy in the minority game problem gives full utilization but the dynamics stops after reaching full efficiency, thereby making the utilization helpful for only about half of the population (those in minority). We further discuss the ways in which the dynamics may be continued and the utilization becomes effective for all the agents keeping fluctuation arbitrarily small.
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Ghosh, A. et al. (2013). Kolkata Paise Restaurant Problem: An Introduction. In: Abergel, F., Chakrabarti, B., Chakraborti, A., Ghosh, A. (eds) Econophysics of Systemic Risk and Network Dynamics. New Economic Windows. Springer, Milano. https://doi.org/10.1007/978-88-470-2553-0_12
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DOI: https://doi.org/10.1007/978-88-470-2553-0_12
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