Sixth Former and Polish Scholar, Jędrzej, has designed a computer program aimed at improving ‘asymmetric information’ and giving consumers access to more data when making buying decisions.
Asymmetric information, also known as ‘information failure’, happens when one party to an economic transaction has greater material knowledge than the other party. This typically occurs when the seller of a good or service possesses greater knowledge than the buyer, but the reverse can also be true.
From Jędrzej:
‘The problem of asymmetric information is that a free-market policy creates a gap between producers, who have all the information about the goods they sell, and buyers who struggle to get the information they need to make the most beneficial buying decisions.
Even though this is one of the most complex issues that many modern economists have tried to find a solution to, with a desire to help disadvantaged consumers, I decided to explore this topic on my own. I created a Computer Science project which aimed to ‘internalise’ information failure. I learnt some principles of one of the main branches of artificial intelligence – machine learning – to design my own computer program. The program uses various equations to analyse different databases and predict certain features of, e.g. the housing or used-car market to help potential buyers make the most rational economic decisions. Successful development of the project has not only helped to improve information failure in the consumer market, but has also taught me how to follow complex lines of mathematical reasoning and be creative in approaching even the most difficult of problems.’
Jędrzej joined Downside for the Lower Sixth. As well as Computer Science, he is also studying Economics and Further Maths at A level. He hopes to go on to read Economics at University College London.
If you are looking for a Sixth Form that supports this type of high-level thinking and independent learning, why not visit Downside – virtually or in person – to see the School for yourself. admissions@downside.co.uk / +44 (0)1761 235103.