- Main topic: Algorithm based economies.
- Estimated run time: 15 minutes.
Stock market flash crashes. Time dilation. Dynamic pricing. Mass-customization of nonexistent products. Our world is becoming increasingly governed by algorithms.
An algorithm is a process or rules system automated by a computer program. Potentially very complex in behavior, these algorithms start with very simple instructions executed by the machine with the only limitations of its physical constrains, a set of constrains very different to ours.