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Market Science A Brief Introduction. Edward Tsang 20 March 2012. Classical Economics. Built on critical assumptions Everybody is perfectly rational Everybody thinks the same way Everybody has full information. Market has changed! By many things Computing plays a big role. Our Proposals.
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Market ScienceA Brief Introduction Edward Tsang 20 March 2012
Classical Economics • Built on critical assumptions • Everybody is perfectly rational • Everybody thinks the same way • Everybody has full information • Market has changed! • By many things • Computing plays a big role
Our Proposals • Wiki-like platform How much weight can we put on various positions? • Market physics
Synopsis • Classical Economics is a castle • … built on sand (flawed assumptions) • Computation was never considered • … it has shifted the ground • Everything must be rebuilt • No more flawed assumptions • New foundations proposed: • Market physics • Wiki-like platform
Further Information • High Frequency Finance Project • http://www.bracil.net/finance/HFF • More technical info on Event Calculus • Search for “Event Calculus” on YouTube • Centre for Computational Finance and Economic Agents (CCFEA) • http://www.essex.ac.uk/ccfea • Contact: Edward Tsang