Cascades of Dynamical Transitions in an Adaptive Population

In an adaptive population which models financial markets and distributed control, we consider how the dynamics depends on the diversity of the agents' initial preferences of strategies. When the diversity decreases, more agents tend to adapt their strategies together. This change in the environment results in dynamical transitions from vanishing to non-vanishing step sizes. When the diversity decreases further, we find a cascade of dynamical transitions for the different signal dimensions, supported by good agreement between simulations and theory. Besides, the signal of the largest step size at the steady state is likely to be the initial signal.Comment: 4 pages, 8 figure

Models of Financial Markets with Extensive Participation Incentives

We consider models of financial markets in which all parties involved find incentives to participate. Strategies are evaluated directly by their virtual wealths. By tuning the price sensitivity and market impact, a phase diagram with several attractor behaviors resembling those of real markets emerge, reflecting the roles played by the arbitrageurs and trendsetters, and including a phase with irregular price trends and positive sums. The positive-sumness of the players' wealths provides participation incentives for them. Evolution and the bid-ask spread provide mechanisms for the gain in wealth of both the players and market-makers. New players survive in the market if the evolutionary rate is sufficiently slow. We test the applicability of the model on real Hang Seng Index data over 20 years. Comparisons with other models show that our model has a superior average performance when applied to real financial data.Comment: 17 pages, 16 figure

Non-wetting drops at liquid interfaces: From liquid marbles to Leidenfrost drops

We consider the flotation of deformable, non-wetting drops on a liquid interface. We consider the deflection of both the liquid interface and the droplet itself in response to the buoyancy forces, density difference and the various surface tensions within the system. Our results suggest new insight into a range of phenomena in which such drops occur, including Leidenfrost droplets and floating liquid marbles. In particular, we show that the floating state of liquid marbles is very sensitive to the tension of the particle-covered interface and suggest that this sensitivity may make such experiments a useful assay of the properties of these complex interfaces.Comment: 21 pages, 9 figures. Minor typos correcte