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Keywords:

  • Congestion games;
  • Experiments;
  • Learning

Abstract This paper gives a critical account of the literature on adaptive behaviour in the minority game, a simple congestion game. The literature has proposed a model which differs markedly from many standard learning models in that players are endowed with a fixed subset of behavioural rules or response modes which map the observed history to actions. These rules need not have a behavioural interpretation or be derived from some form of optimizing behaviour. Nonetheless, this model gives rise to behaviour that is close to equilibrium behaviour at the aggregate level. The individual-level behaviour predicted by the model seems to capture some aspects of observed experimental behaviour that are difficult to explain using standard models.