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