By means of extensive numerical simulations, we show that all the distinctive features of the minority game introduced by Challet and Zhang [Physica A 256, 514 (1998)] are completely independent of the memory of the agents. The only crucial requirement is that all the individuals must possess the same information, irrespective of whether this information is true or false.

• Received 15 December 1998

DOI:https://doi.org/10.1103/PhysRevE.59.R3783