how does science mix with economy ???? :( | FerrariChat
Buy

how does science mix with economy ???? :(

Discussion in 'Other Off Topic Forum' started by downwiz2, Apr 6, 2006.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. downwiz2

    downwiz2 Rookie

    Apr 2, 2006
    3
    #1 downwiz2, Apr 6, 2006
    i don't know enough about marketing or economy...since im studying science...

    but i am very curious since i keep hearing about these people "using physics to measure/optimize the market/economy," "using genetic algorithms to measure/optimize the market..."

    what does this mean???? im very confused because I cannot see how you can apply science to the market and economy....i thought economy was just studying models, theories and doing number crunching....how does science integrate into such different field??

    apparently using physics in the economy field is really BIG, and very profitable....exactly what do these people do? is this like a consulting business? or service?

    I still can't see how science and economy/market mix.....
     
  2. DrStranglove

    DrStranglove FChat Assassin
    Owner Rossa Subscribed

    Oct 31, 2003
    31,748
    Google Maps
    Full Name:
    DrS
    #2 DrStranglove, Apr 6, 2006
    Wrong forum.
     
  3. Etcetera

    Etcetera Two Time F1 World Champ
    Silver Subscribed

    Dec 7, 2003
    24,266
    Full Name:
    C6H14O5
    #3 Etcetera, Apr 6, 2006
    If you really want to be confused, study the science behind real estate valuation.

    A fairly popular movie was released a while ago that documented this...I believe it is called Greengary Glen Ross.
     
  4. JSinNOLA

    JSinNOLA Two Time F1 World Champ
    Sponsor Lifetime Rossa Owner

    Mar 18, 2002
    20,343
    Denver, CO
    #4 JSinNOLA, Apr 6, 2006
    Glengary Glen Ross simply uses real estate scheming as a backdrop to the story. A 'who done it' when pushed to the edge drama. It's quoted in my signature! ;)
     
  5. RacerX_GTO

    RacerX_GTO F1 World Champ
    Silver Subscribed

    Nov 2, 2003
    14,842
    Oregon
    Full Name:
    Gabe V.
    #5 RacerX_GTO, Apr 6, 2006
    I still can’t figure out why the US tax code is socially engineered to penalize certain groups. As a single taxpayer, I feel discriminated against versus those who signed a marriage contracts.
     
  6. downwiz2

    downwiz2 Rookie

    Apr 2, 2006
    3
    #6 downwiz2, Apr 6, 2006
    wrong crowd. :D
     
  7. downwiz2

    downwiz2 Rookie

    Apr 2, 2006
    3
    #7 downwiz2, Apr 6, 2006
    danke.
     
  8. Steve R

    Steve R F1 Rookie
    BANNED

    Sep 15, 2004
    3,018
    MeSoNeedy, CA
    Full Name:
    TorQ Master
    #8 Steve R, Apr 7, 2006
     
  9. ylshih

    ylshih Shogun Assassin
    Honorary Owner

    Mar 21, 2004
    20,565
    Northern CA
    Full Name:
    Yin
    #9 ylshih, Apr 7, 2006
    First, wrong forum.

    Second, the question is legitimate and encompasses much more than statistics.

    As an example:

    http://www.powells.com/biblio?isbn=0471877387

    There are probably two primary areas of application. The first is using ideas from physics that have been developed to model complex, interacting, probabilistic systems and seeing if those can be transferred to modelling financial/economic systems. The second is using the mathematical methods of physics (and also engineering) such as signal processing, fourier transforms, wavelets, neural networks, genetic algorithms, etc to see if financial/economic time series data have any predictability. The difference between the first and the second is that of trying to build a model of what might be inside a box versus just observing the exterior of a box, but in both cases to attain some knowledge which increases prediction ability.

    This is a pretty deep subject and you probably need to research the financial/economic journals if you're seriously interested. Searching for "physics and finance" comes back with quite a few hits.
     

Share This Page