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Things to study?
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Death2Amarr
Minmatar Death Squad
DECOY
#1 - 2014-06-27 06:35:36 UTC
So, I am planning on writing a market program, maybe an app, and need to know what kind of math(s) I should learn. I know that I will need statistics as I have seen standard deviation mentioned more than a few times. Do I need more than that?

I also want to learn as much about economics as I can but there would be a massive bonus if it will help me in EVE. I tried doing some research on Khan Academy and it seems I need to study microeconomics but that is all I have gathered. I have also read Vaerah Vahrokha's stuff on price action trading and while I don't know how to use the information, it was all very interesting to me. Any suggestions?
Private Pineapple
Brutor Tribe
Minmatar Republic
#2 - 2014-06-27 13:44:28 UTC
Algebra would be a solid foundation. That should do nicely.

.
okoolos rimmer
Napkin Nation
#3 - 2014-06-27 13:59:52 UTC
Econometrics would be a safe bet (I'd pay particular attentrion to regression analysis). Game theory (Everyone should know the basics: Prosoner's dilemma, Nash equilibrium etc). Basics of linear algebra (i.e matrices). Single and multivariate calculus would be a bonus.
MailDeadDrop
Archon Industries
#4 - 2014-06-27 14:21:52 UTC  |  Edited by: MailDeadDrop
Egads okoolos. Get thee to a spell check!

But not bad suggestions, although it isn't at clear to me why you think matrix algebra has any applicability to economic modeling. I'm not saying it isn't applicable, I just can't imagine how. Eigenvectors ... :shudder:

Edit: I just noticed that statistics seems to have been overlooked. Normal, Poisson, and Binomial distributions all figure into economic theory.

Edit #2: Oh, I see the OP mentioned it. Nevermind. :-)

MDD
Oculi Magni
Disintegrate Crew
#5 - 2014-06-27 14:28:31 UTC  |  Edited by: Oculi Magni
Maybe you should start first on what you want to do with your little program then go from there what there is to know to get it done.

Having already knowledge in all the fields mentioned above is good to start with but I'm unsure if it's good to begin with.
Ireland VonVicious
Vicious Trading Company
#6 - 2014-06-28 01:12:39 UTC
Philosophy
Math is a language and to speak it well you must know what you want to say.
Jean-Jacques Rousseau would be a top pick out of what I've read.

Sociology
Know your enemy and know your friend.
Once you get in the mind set of how and why people do what they do you can really work every possibility in any area of life.
Death2Amarr
Minmatar Death Squad
DECOY
#7 - 2014-06-28 05:11:15 UTC
Thank you all for your suggestions, I think they will all help in great ways. I never knew what game theory was but after doing some research, it looks somewhat confusing and fun to learn. It is fun learning new, complex things when you have something to apply it to. I don't think I would have even considered putting myself through all of this math and philosophy before getting into EVE. Big smile
Ellon JTC
Quadralien
#8 - 2014-06-28 06:45:27 UTC
Death2Amarr wrote:
So, I am planning on writing a market program, maybe an app, and need to know what kind of math(s) I should learn. I know that I will need statistics as I have seen standard deviation mentioned more than a few times. Do I need more than that?

I also want to learn as much about economics as I can but there would be a massive bonus if it will help me in EVE. I tried doing some research on Khan Academy and it seems I need to study microeconomics but that is all I have gathered. I have also read Vaerah Vahrokha's stuff on price action trading and while I don't know how to use the information, it was all very interesting to me. Any suggestions?


Buy low sell high :)
Elizabeth Norn
Nornir Research
Nornir Empire
#9 - 2014-06-28 09:24:10 UTC
Oculi Magni wrote:
Maybe you should start first on what you want to do with your little program then go from there what there is to know to get it done.

Having already knowledge in all the fields mentioned above is good to start with but I'm unsure if it's good to begin with.


Oculi has a point, do you actually trade in Eve? Knowing what'd improve your quality of life while trading is more useful than some magical math you've just learnt and haven't applied to trading for very long.

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Death2Amarr
Minmatar Death Squad
DECOY
#10 - 2014-06-28 10:31:50 UTC
Elizabeth Norn wrote:
Oculi Magni wrote:
Maybe you should start first on what you want to do with your little program then go from there what there is to know to get it done.

Having already knowledge in all the fields mentioned above is good to start with but I'm unsure if it's good to begin with.


Oculi has a point, do you actually trade in Eve? Knowing what'd improve your quality of life while trading is more useful than some magical math you've just learnt and haven't applied to trading for very long.


I have started getting back into trading after a long time away from EVE and have started using new tools. Before, I would use a calculator to find the best items but now that I am using Mentat, it is MUCH easier. The problem is that it doesn't do certain things the way I want so I wanted to write my own tool. I have a rough idea of a few things that could improve my quality of life and wanted to hear from you guys about what else I could implement. Not to mention the fact that I am interested in general investments and all of this information could translate to RL.
Cavalira
Habemus
#11 - 2014-06-28 10:37:54 UTC
Study something you like to study. Not something that'd make you rich, not something that will make you cool.

Follow the heart, or you'll end up spending 5 miserable years, instead of 5 awesome years.
Death2Amarr
Minmatar Death Squad
DECOY
#12 - 2014-06-28 11:11:00 UTC
Cavalira wrote:
Study something you like to study. Not something that'd make you rich, not something that will make you cool.

Follow the heart, or you'll end up spending 5 miserable years, instead of 5 awesome years.


Most of this stuff sounds fun to study, although complicated. The only "tedious" thing to me is the math. It would help me in my profession but I never really studied it.
Derrick Miles
Death Rabbit Ky Oneida
#13 - 2014-06-28 11:20:55 UTC
I've actually been doing something similar with WPF and the apis available. So far the only math required has mostly just been weighted averages of various kinds. The CREST api can give you a lot of data to work with and seeing the overall trends rather than the sharp local spikes is helpful. Eve's economy isn't really all that advanced and you probably won't need any higher level math in my opinion. If you just want to study some relevant math in market economics than statistics is the field you should look at. In eve though, most of it will just get you similar info as the averages do.
Rhivre
TarNec
Invisible Exchequer
#14 - 2014-06-28 16:28:55 UTC
Knowing maths of various types is not necessary, it is a handy bonus.

More important is being able to get and understand the information from the API.

Fluffy Bunny Pic!

Cavalira
Habemus
#15 - 2014-06-28 23:29:39 UTC
Death2Amarr wrote:
I tried doing some research on Khan Academy and it seems I need to study microeconomics but that is all I have gathered


I just finished my course of MicroEconomics. Most of it is not even remotely applicable to real life situations. It's more about a mindset or perception about our choices, and it is about calculating equilibriums and stuff.

After all, who knows my inner Utility function well enough to figure out how to price their goods.