Trading Floor
Make markets under uncertainty
Deterministic market-making games with transparent scoring. Estimate fair value, quote a two-sided market, absorb flow from noise and informed traders, manage inventory, and see exactly where your PnL came from.
3 rounds · Max width 2 · Limit ±10
Three-Dice Market
Three fair six-sided dice are rolled face down. You make a market on their sum. Before each of the three rounds, one more die is turned over (none in the first round). Settles at the true sum.
Target score ≥ 0
Play5 rounds · Max width 4 · Limit ±12
Five-Card Market
Five cards are dealt face down from a standard deck (Ace = 1 through King = 13). You make a market on their total. Before each round after the first, one card is revealed. Because cards are not replaced, every reveal also changes the composition of the rest of the deck.
Target score ≥ 2
PlayWhat the score measures
- Spread edge
- What you earn versus the public expected value each time someone trades with you. Tight, well-centred quotes earn more noise flow.
- Information PnL
- What you lose (or gain) because the true value differs from the public expected value. The informed trader only trades when you are wrong.
- Inventory charge
- A per-round charge on your absolute position. Large positions are risky even when your fair value is right.
- Fair-value penalty
- How far your stated fair value is from the exact conditional expectation given the information revealed so far.