Abstract
J. Phys. A: Math. Gen. 33, L409-414 (2000) We present a quantitative theory, based on crowd effects, for the market
volatility in a Minority Game played by a mixed population. Below a critical
concentration of generalized strategy players, we find that the volatility in
the crowded regime remains above the random coin-toss value regardless of the
"temperature" controlling strategy use. Our theory yields good agreement with
numerical simulations.
