What was the assessor market modeling network founded by a professor from MIT and Harvard concerned with
Without more information about the specific professor or network in question, I cannot provide a precise answer. However, based on the limited information provided, it is possible that the network was concerned with developing models for assessing financial markets.
Market modeling is the process of using mathematical and statistical techniques to analyze financial data and make predictions about market behavior. This can include forecasting stock prices, analyzing risk, and identifying trading opportunities. The use of machine learning and artificial intelligence has become increasingly popular in market modeling in recent years, as these techniques can help identify patterns and correlations in large, complex datasets.
Assessing financial markets is a complex task that requires a deep understanding of economics, finance, and statistical modeling. It is possible that the professor and network in question were focused on developing models and algorithms to better assess the performance and risk of financial markets. This could have practical applications for investors, traders, and financial institutions seeking to make informed decisions about buying, selling, and managing financial assets.
The market modeling network founded by Professor Andrew W. Lo of MIT and Professor Roger G. Ibbotson of Yale University (not Harvard) is called the Asset Management Industry and Systemic Risk (AMIS) Network, also known as the "Assessing Risk and Uncertainty in Financial Markets" project. The network was established in 2011 and aimed to better understand the complex interactions between financial markets, financial institutions, and the broader economy, with a focus on systemic risk.
The AMIS Network seeks to develop new methods and models for assessing and managing risk in financial markets, with a particular emphasis on the role of asset management firms in the financial system. The network brings together researchers from academia, industry, and regulatory agencies to collaborate on research projects and share insights into the functioning of financial markets.
The network has produced a number of research papers and reports on topics such as financial stability, risk management, and the impact of regulation on the asset management industry. Professor Lo has also published several books on financial risk management, including "Adaptive Markets: Financial Evolution at the Speed of Thought."
The market modeling network you are referring to is called the "Assessor Model," which was developed in the late 1970s by Glen Urban, a marketing professor at MIT, and Alvin Silk, a marketing professor at Harvard. The Assessor Model was a pioneering approach to market research that used computer simulations to test and evaluate new products and marketing strategies.
The Assessor Model was designed to help businesses and marketers make better decisions by simulating the behavior of consumers in response to different product features, pricing strategies, and advertising campaigns. The model was based on the idea that consumer behavior is influenced by a complex set of factors, including product attributes, advertising messages, and personal preferences, and that these factors interact in unpredictable ways.
To use the Assessor Model, researchers would enter data about a product's attributes, such as its price, quality, and features, as well as data about consumer preferences and demographics. The model would then simulate how consumers would respond to the product under different scenarios, allowing marketers to identify the most effective strategies for promoting the product.
The Assessor Model was also the source of the Express software, which was developed by Urban and his colleagues in the 1980s. Express was a user-friendly software package that made it easier for businesses to apply the Assessor Model to their own market research efforts. The software became widely used in the marketing industry and helped to popularize the use of computer simulations in market research.