Advancing the Field of Quantitative Finance
formerly the IAFE


Event: SQA ´Fuzzy Day´ Seminar
Date: June 12
The New York Helmsley Hotel
212 East 42nd Street


SQA´s ´Annual Fuzzy Day´ Seminar

Experimental Finance
New Approaches to Investment Based on Experiments and Games

“Fuzzy Day” provides the opportunity for SQA members to learn about new tools, techniques, and theories relevant to investing. This year’s “Fuzzy Day” is devoted to experimental economics, the subject of the most recent Nobel Prize in Economics. We will hear from the leading experimentalists/theorists, such as Shayam Sunder of Yale and Charles Plott of Caltech, as well as managers who have put experimental results into financial action. Fuzzy Day also returns to the spirit of its original roots with the chance for all those who register early to participate in a fun, relevant research experiment and be compensated for it.

During the week of June 2, Fuzzy Day participants will participate in a fun, theoretically grounded, web-based securities trading experiment conducted by Caltech’s Laboratory for Experimental Economics and Political Science. The results of the experiment will shed interesting insight as to how market participants gradually process information and how an equilibrium price emerges. Lab Founder and Caltech Professor Charles Plott will present the results of this Arrow-Debreu experiment and its implications for financial markets on June 12 during Fuzzy Day. In addition, the experiment’s research design requires that Fuzzy Day participants be compensated with cash on a scale that reflects individual participation and performance during the experiment. The results, respecting strict anonymity, will be useful for Fuzzy Day participants as well as the research program of the Laboratory. (See the full description for more details about participation.)

The Fuzzy Day program focuses on three basic questions about experimental finance:

  • Why take an experimental approach when there is so much macro and micro data available about actual behavior of investors and markets?
  • What have we learned from experiments about investors and markets?
  • How has this knowledge been applied in the management of mutual funds, auctions, and securities trading?

For details on the agenda and experiments, please visit the SQA web site at