Knowledge engineering and expert systems in the financial markets

Jeffrey Mishlove interviews Edward Feigenbaum and Penny Nii for Thinking Allowed.

Jeffrey Mishlove interviews Edward Feigenbaum and Penny Nii for Thinking Allowed.

Between 1986 and 2002, I hosted the weekly television series, Thinking Allowed, interviewing leading figures about psychology, philosophy, science, health, and spirituality. In the interview that is excerpted below, I interviewed Edward Feigenbaum and his colleague Penny Nii. Feigenbaum was widely regarded as the father of the field of knowledge engineering. These interviews were generally done before I began to take a serious interest in the financial markets. So, I did not pay much attention then to the fact that Feigenbaum had attempted, with minimal success, to implement a knowledge engineering version of Robert Prechter’s interpretation of Elliott Wave Theory.

As I think about it, it seems reasonable to me that it should be possible to create knowledge engineered, expert systems based on outstanding traders (such as Rob Hoffman’s whose work I cited in my recent December 18 blog post). But, I do not know the extent to which this approach has ever been attempted or implemented.

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