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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. - PowerPoint PPT Presentation
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Market ScienceMarket ScienceA Brief IntroductionA Brief Introduction
Edward TsangEdward Tsang20 March 201220 March 2012
Classical EconomicsClassical Economics
Built on critical assumptions
Everybody is perfectly rationalEverybody thinks the same wayEverybody has full information
Market has changed!By many things
Computing plays a big role
Our ProposalsOur Proposals Market physicsMarket physics Wiki-like platformWiki-like platform
How much weight can we put on various positions?
SynopsisSynopsis Classical Economics is a castleClassical Economics is a castle
… … built on sand (flawed assumptions)built on sand (flawed assumptions) Computation was never consideredComputation was never considered
… … it has shifted the groundit has shifted the ground Everything must be rebuiltEverything must be rebuilt
No more flawed assumptionsNo more flawed assumptions New foundations proposed:New foundations proposed:
Market physicsMarket physics Wiki-like platformWiki-like platform
Further InformationFurther Information
High Frequency Finance ProjectHigh Frequency Finance Project http://www.bracil.net/finance/HFFhttp://www.bracil.net/finance/HFF
More technical info on Event CalculusMore technical info on Event Calculus Search for “Search for “Event CalculusEvent Calculus” on YouTube” on YouTube
Centre for Computational Finance and Centre for Computational Finance and Economic Agents (CCFEA)Economic Agents (CCFEA) http://www.essex.ac.uk/ccfeahttp://www.essex.ac.uk/ccfea
Contact: Edward TsangContact: Edward Tsang
