There is no problem describing financial products ontologically.
Calipers are not a requirement. All financial products are
contracts, and contracts are a real thing regardless of whether
they consist of paper in a vault (as a few still do) or are
maintained electronically. (02)
If you don't think contracts are real, try breaking one :) (03)
The dimensions along which they are defined are, as you rightly
suggest, where it gets interesting. One look at the ISO 10962
Classification of Financial Instruments standard will show what a
challenge it is to try and articificially shoe-horn the whole lot
into one dimension - you simply can't. (04)
On 07/07/2011 16:21, David Eddy wrote:
> John -
> On 2011-07-06, at 12:45 PM, John F. Sowa wrote:
>> And a warning: Unless you can find an immutable law of nature
>> that creates a classification, don't expect it to be a solid
>> foundation for a "standard ontology".
> My view of (imagined) reality has been largely financial services
> (e.g. mutual funds, brokerage, banking,& various forms of
> insurance). In my career, I have only worked directly for a single
> firm that actually made a physical product (junk jewelry)...
> otherwise everything has been paper pushing, describing various
> facets of non-dimensional products.
> Quite naturally, since these industries are all conjured out of thin
> air, there are no natural laws to impose organizational discipline.
> From what I've seen, "organization" is largely the last minute panic
> to make the next deadline. Does tend to leave a chaotic residue
> which only gets worse over time.
> Since this ontology interest has arisen, it has been rattling around
> in the back of my mind if ontologies can be applied to things like
> financial "products."
> Personally I vacillate between describing financial "products" as
> either "non-dimensional" or "N-dimensional." In any case these
> products are stuff that cannot be put on a scale& weighted or have a
> caliper applied to them. It's just information which as far as I
> know we have no idea how to measure other than silly things like
> "lines of code."
> David Eddy
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