Minority Games: Interacting agents in financial markets (Oxford Finance Series) - Tapa dura

Much of the book is devoted to examining the generalizations and extensions of the basic MG idea...essential reading for those who wish to gain a deep understanding of this idea (Dean Rickles Studies in History and Philosophy of Modern Physics)

The book will be useful beyond economics, the philosophy of economics, and the philosophy of physics since it deals in an elementary way with issues of modelling. Therefore, I recommend it as much to philosophers of sciences (looking for some novel case studies and examples) as to philosophers of physics. (Studies in History and Philosophy of Modern Physics 38)

The Minority Game is a physicist's attempt to explain market behaviour by the interaction between traders. With a minimal set of ingredients and drastic assumptions, this model reproduces market ecology among different types of traders. Its emphasis is on speculative trading and information flow. The book first describes the philosophy lying behind the conception of the Minority Game in 1997, and includes in particular a discussion about the El Farol bar problem. Then it reviews the main steps in later developments, including both the theory and its applications to market phenomena. This book gives a colourful and stylized, but also realistic picture of how financial markets operate.