Competition, efficiency and collective behavior in the “El Farol” bar model

• DOI: 10.1007/s100510050843
• Publication Date: 2002-08-25T09:25:39Z
• Authors: M.A.R. de Cara; O. Pla; F. Guinea
• Keywords: Bar (unit); Stochastic game

7 pages Latex, 7 Postscript figures; changed reference, acknowledgments included. Accepted for publication in Europen Physics Journal B<br/>The El Farol bar model, proposed to study the dynamics of competition of agents in a variety of contexts (W. B. Arthur, Amer. Econ. Assoc. Pap. and Proc. 84, 406 (1994)) is studied. We characterize in detail the three regions of the phase diagram (efficient, inefficient and better than random) of the simplest version of the model (D. Challet and Y.-C. Zhang, Physica A, 246, 407 (1997)). The efficient region is shown to have a rich structure, which is investigated in some detail. Changes in the payoff function enhance further the tendency of the model towards a wasteful distribution of resources.<br/>