A market model for exploitation and cooperation using the Minority Game

The Minority Game, which is the mathematical formulation of ”El Farol Bar” considered by Brian Arthur, embodies some basic market mechanisms while keeping mathematical complexity to a minimum. Agents seek to differentiate from the competitors, willing to be in the minority group. The main objective of this MSc Thesis is to analyze a model for market dynamics based on the Minority Game and extend it to explore market features, cooperation and competition.