1. Market Science A Brief Introduction Edward Tsang 20 March 2012

2. 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

3. Our Proposals Market physics Market physics Wiki-like platform Wiki-like platform How much weight can we put on various positions?

4. Synopsis Classical Economics is a castle Classical Economics is a castle … built on sand (flawed assumptions) … built on sand (flawed assumptions) Computation was never considered Computation was never considered … it has shifted the ground … it has shifted the ground Everything must be rebuilt Everything must be rebuilt No more flawed assumptions No more flawed assumptions New foundations proposed: New foundations proposed: Market physics Market physics Wiki-like platform Wiki-like platform

5. Further Information High Frequency Finance Project High Frequency Finance Project http://www.bracil.net/finance/HFF http://www.bracil.net/finance/HFF http://www.bracil.net/finance/HFF More technical info on Event Calculus More technical info on Event Calculus Search for “Event Calculus” on YouTube Search for “Event Calculus” on YouTubeEvent CalculusEvent Calculus Centre for Computational Finance and Economic Agents (CCFEA) Centre for Computational Finance and Economic Agents (CCFEA) http://www.essex.ac.uk/ccfea http://www.essex.ac.uk/ccfea http://www.essex.ac.uk/ccfea Contact: Edward Tsang Contact: Edward TsangEdward TsangEdward Tsang