El Farol Bar Model

The '''El Farol bar model''' describes chaotic behavior of bar attendees, where the number of people attending the bar fluctuates around a certain threshold. It was created in 1994 by W. Brian Arthur, an economics who helped start the Santa Fe Institute. In its more general form it is known as the minority game, where people try to be in the minority for a certain choice, because in the end minority side wins. The El Farol bar model is named after a bar in Santa Fe, New Mexico. Once a week the bar had live Irish music that was enjoyable only if the place wasn't too crowded. The problem was to decide when to go and when to stay home.

The '''El Farol bar model''' describes chaotic behavior of bar attendees, where the number of people attending the bar fluctuates around a certain threshold. It was created in 1994 by W. Brian Arthur, an economics who helped start the Santa Fe Institute. In its more general form it is known as the minority game, where people try to be in the minority for a certain choice, because in the end minority side wins. The El Farol bar model is named after a bar in Santa Fe, New Mexico. Once a week the bar had live Irish music that was enjoyable only if the place wasn't too crowded. The problem was to decide when to go and when to stay home.