J. Doyne Farmer
Encyclopedia
J. Doyne Farmer is an American
physicist
and entrepreneur
, with interest in chaos theory
and complexity
. He is a professor at the Santa Fe Institute
. He was also a member of Eudaemonic Enterprises.
, he spent most of his early life in Silver City, New Mexico
, where he first developed an interest in physics. He spent his first year of college at the University of Idaho
and his second year at Stanford University
, California. Doyne went to graduate school at the University of California, Santa Cruz
, where he studied chaos theory and the physics of roulette
. He received his PhD in Physics there in 1981.
Doyne Farmer then took up a post-doctoral appointmment at the centre for non-linear studies at the Los Alamos National Laboratory
and in 1988 became leader of the Complex Systems Group, Theoretical Division.
In 1991 Farmer gave up his position at Los Alamos to start Prediction Company
, with Norman Packard
and Jim McGill. The purpose of this company was to create automated trading systems for a variety of commodity
and securities markets
, making predictions of trends using principles of physics, particularly Chaos Theory
.
were a small group headed by graduate physics students Doyne Farmer and Norman Packard
at the University of California, Santa Cruz
in the late 1970s. The group's immediate objective was to find a way to beat roulette
, but a loftier objective was to use the money made from roulette to fund a scientific community. The name of the group was inspired by the eudaimonism philosophy.
While a graduate student Doyne Farmer and other students from the University of California, Santa Cruz, spent several years researching a physics-based system that could predict outcomes of roulette games. During this time the group built a series of computers that were capable of calculating the motion of a moving ball, and trials in Las Vegas
showed success. However, because of technical faults with computer equipment, the success was only partial and the technology was not feasible to use to make large profits.
was founded in 1991 by Doyne Farmer, Norman Packard and Jim McGill to apply principles of physics and mathematics to the financial sector. From 1991 to 1999 Doyne held the position of Chief Scientist and from 1995 to 1999 the position of co-president.
and is currently part of the steering committee.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
physicist
Physicist
A physicist is a scientist who studies or practices physics. Physicists study a wide range of physical phenomena in many branches of physics spanning all length scales: from sub-atomic particles of which all ordinary matter is made to the behavior of the material Universe as a whole...
and entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, with interest in chaos theory
Chaos theory
Chaos theory is a field of study in mathematics, with applications in several disciplines including physics, economics, biology, and philosophy. Chaos theory studies the behavior of dynamical systems that are highly sensitive to initial conditions, an effect which is popularly referred to as the...
and complexity
Complexity
In general usage, complexity tends to be used to characterize something with many parts in intricate arrangement. The study of these complex linkages is the main goal of complex systems theory. In science there are at this time a number of approaches to characterizing complexity, many of which are...
. He is a professor at the Santa Fe Institute
Santa Fe Institute
The Santa Fe Institute is an independent, nonprofit theoretical research institute located in Santa Fe and dedicated to the multidisciplinary study of the fundamental principles of complex adaptive systems, including physical, computational, biological, and social systems.The Institute houses a...
. He was also a member of Eudaemonic Enterprises.
Biography
Although born in Houston, TexasTexas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, he spent most of his early life in Silver City, New Mexico
Silver City, New Mexico
Silver City is a town in Grant County, New Mexico, in the United States. As of the 2000 census, the town population was 10,545. It is the county seat of Grant County. The city is the home of Western New Mexico University.-History:...
, where he first developed an interest in physics. He spent his first year of college at the University of Idaho
University of Idaho
The University of Idaho is the State of Idaho's flagship and oldest public university, located in the rural city of Moscow in Latah County in the northern portion of the state...
and his second year at Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, California. Doyne went to graduate school at the University of California, Santa Cruz
University of California, Santa Cruz
The University of California, Santa Cruz, also known as UC Santa Cruz or UCSC, is a public, collegiate university; one of ten campuses in the University of California...
, where he studied chaos theory and the physics of roulette
Roulette
Roulette is a casino game named after a French diminutive for little wheel. In the game, players may choose to place bets on either a single number or a range of numbers, the colors red or black, or whether the number is odd or even....
. He received his PhD in Physics there in 1981.
Doyne Farmer then took up a post-doctoral appointmment at the centre for non-linear studies at the Los Alamos National Laboratory
Los Alamos National Laboratory
Los Alamos National Laboratory is a United States Department of Energy national laboratory, managed and operated by Los Alamos National Security , located in Los Alamos, New Mexico...
and in 1988 became leader of the Complex Systems Group, Theoretical Division.
In 1991 Farmer gave up his position at Los Alamos to start Prediction Company
Prediction Company
Prediction Company was founded in Santa Fe, New Mexico, USA, in March 1991 by J. Doyne Farmer, Norman Packard and James McGill. The company uses various forecasting techniques to build black-box trading systems for various financial markets...
, with Norman Packard
Norman Packard
Norman Harry Packard is a chaos theory physicist and one of the founders of the Prediction Company and ProtoLife. He is an alumnus of Reed College and the University of California, Santa Cruz. Packard is known for his contributions to both chaos theory and cellular automata...
and Jim McGill. The purpose of this company was to create automated trading systems for a variety of commodity
Commodity markets
Commodity markets are markets where raw or primary products are exchanged. These raw commodities are traded on regulated commodities exchanges, in which they are bought and sold in standardized contracts....
and securities markets
Capital market
A capital market is a market for securities , where business enterprises and governments can raise long-term funds. It is defined as a market in which money is provided for periods longer than a year, as the raising of short-term funds takes place on other markets...
, making predictions of trends using principles of physics, particularly Chaos Theory
Chaos theory
Chaos theory is a field of study in mathematics, with applications in several disciplines including physics, economics, biology, and philosophy. Chaos theory studies the behavior of dynamical systems that are highly sensitive to initial conditions, an effect which is popularly referred to as the...
.
Eudaemonic Enterpises
The EudaemonsEudaemons
The Eudaemons were a small group headed by graduate physics students J. Doyne Farmer and Norman Packard at the University of California Santa Cruz in the late 1970s. The group's immediate objective was to find a way to beat roulette, but a loftier objective was to use the money made from roulette...
were a small group headed by graduate physics students Doyne Farmer and Norman Packard
Norman Packard
Norman Harry Packard is a chaos theory physicist and one of the founders of the Prediction Company and ProtoLife. He is an alumnus of Reed College and the University of California, Santa Cruz. Packard is known for his contributions to both chaos theory and cellular automata...
at the University of California, Santa Cruz
University of California, Santa Cruz
The University of California, Santa Cruz, also known as UC Santa Cruz or UCSC, is a public, collegiate university; one of ten campuses in the University of California...
in the late 1970s. The group's immediate objective was to find a way to beat roulette
Roulette
Roulette is a casino game named after a French diminutive for little wheel. In the game, players may choose to place bets on either a single number or a range of numbers, the colors red or black, or whether the number is odd or even....
, but a loftier objective was to use the money made from roulette to fund a scientific community. The name of the group was inspired by the eudaimonism philosophy.
While a graduate student Doyne Farmer and other students from the University of California, Santa Cruz, spent several years researching a physics-based system that could predict outcomes of roulette games. During this time the group built a series of computers that were capable of calculating the motion of a moving ball, and trials in Las Vegas
Las Vegas Strip
The Las Vegas Strip is an approximately stretch of Las Vegas Boulevard in Clark County, Nevada; adjacent to, but outside the city limits of Las Vegas proper. The Strip lies within the unincorporated townships of Paradise and Winchester...
showed success. However, because of technical faults with computer equipment, the success was only partial and the technology was not feasible to use to make large profits.
Prediction Company
The Prediction CompanyPrediction Company
Prediction Company was founded in Santa Fe, New Mexico, USA, in March 1991 by J. Doyne Farmer, Norman Packard and James McGill. The company uses various forecasting techniques to build black-box trading systems for various financial markets...
was founded in 1991 by Doyne Farmer, Norman Packard and Jim McGill to apply principles of physics and mathematics to the financial sector. From 1991 to 1999 Doyne held the position of Chief Scientist and from 1995 to 1999 the position of co-president.
Other interests
Farmer is a co-founder of the Atalaya Institute, a new and independent public policy institute in Santa FeSanta Fe, New Mexico
Santa Fe is the capital of the U.S. state of New Mexico. It is the fourth-largest city in the state and is the seat of . Santa Fe had a population of 67,947 in the 2010 census...
and is currently part of the steering committee.