Louis Bachelier S Theory Of Speculation
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Louis Bachelier S Theory Of Speculation
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Author : Louis Bachelier
language : en
Publisher: Princeton University Press
Release Date : 2011-12-12
Louis Bachelier S Theory Of Speculation written by Louis Bachelier and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-12 with Business & Economics categories.
March 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis Théorie de la Spéculation at the Sorbonne. The jury, while noting that the topic was "far away from those usually considered by our candidates," appreciated its high degree of originality. This book provides a new translation, with commentary and background, of Bachelier's seminal work. Bachelier's thesis is a remarkable document on two counts. In mathematical terms Bachelier's achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973, the first decisive advance since 1900. Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete. The story is a curious one. The economic side of Bachelier's work was ignored until its rediscovery by financial economists more than fifty years later. The results were spectacular: within twenty-five years the whole theory was worked out, and a multibillion-dollar global industry of option trading had emerged.
The Physics Of Wall Street
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Author : James Owen Weatherall
language : en
Publisher: Houghton Mifflin Harcourt
Release Date : 2013
The Physics Of Wall Street written by James Owen Weatherall and has been published by Houghton Mifflin Harcourt this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
A young scholar tells the story of the physicists and mathematicians who created the models that have become the basis of modern finance and argues that these models are the "solution" to--not the source of--our current economic woes.
The Random Character Of Stock Market Prices
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Author : Paul H. Cootner
language : en
Publisher: MIT Press (MA)
Release Date : 1967
The Random Character Of Stock Market Prices written by Paul H. Cootner and has been published by MIT Press (MA) this book supported file pdf, txt, epub, kindle and other format this book has been release on 1967 with Business & Economics categories.
American Exceptionalism
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Author : Lall Ramrattan
language : en
Publisher: Springer
Release Date : 2019-01-31
American Exceptionalism written by Lall Ramrattan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-31 with Business & Economics categories.
The publication of Alexis de Tocqueville’s Democracy in America has kindled interest across disciplines to appraise the exceptional nature of U.S. activities. In general, however, all the published works have not focused their analyses from an economic point of view. While economics was for some a “dismal science” following Thomas Carlyle’s characterization of Malthus’ demographic model, it has increasingly become the “queen of the social sciences” for more practitioners. The book fills a gap in the literature by describing the American contributors as precursors and genuinely exceptional economists. We present their works within the state of the nation in which they advance their discipline. One is treated to both qualitative and quantitative theories in the opening chapter. Budding theories that became established theories of Economics and Finance are investigated in Chapters II and III. When President John Adams was confronted with M. Turgot’s criticisms of the American government, he resorted to a historic survey of types of government from ancient Greece to the Middle Ages. Similarly, we have included a final chapter, Chapter IV, to present the argument for American Exceptionalism in the domain of Political Economy and Economic Law over the ages.
Capital Ideas
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Author : Peter L. Bernstein
language : en
Publisher: John Wiley & Sons
Release Date : 2012-09-11
Capital Ideas written by Peter L. Bernstein and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-11 with Business & Economics categories.
Capital Ideas traces the origins of modern Wall Street, from the pioneering work of early scholars and the development of new theories in risk, valuation, and investment returns, to the actual implementation of these theories in the real world of investment management. Bernstein brings to life a variety of brilliant academics who have contributed to modern investment theory over the years: Louis Bachelier, Harry Markowitz, William Sharpe, Fischer Black, Myron Scholes, Robert Merton, Franco Modigliani, and Merton Miller. Filled with in-depth insights and timeless advice, Capital Ideas reveals how the unique contributions of these talented individuals profoundly changed the practice of investment management as we know it today.
The World Scientific Handbook Of Futures Markets
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Author : Anastasios G. E. T. Al MALLIARIS
language : en
Publisher: World Scientific
Release Date : 2015-08-06
The World Scientific Handbook Of Futures Markets written by Anastasios G. E. T. Al MALLIARIS and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-08-06 with Business & Economics categories.
"The World Scientific Handbook of Futures Markets serves as a definitive source for comprehensive and accessible information in futures markets. The emphasis is on the unique characteristics of futures markets that make them worthy of a special volume. In our judgment, futures markets are currently undergoing remarkable changes as trading is shifting from open outcry to electronic and as the traditional functions of hedging and speculation are extended to include futures as an alternative investment vehicle in traditional portfolios. The unique feature of this volume is the selection of five classic papers that lay the foundations of the futures markets and the invitation to the leading academics who do work in the area to write critical surveys in a dozen important topics."--$cProvided by publisher.
Pricing The Future
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Author : George G Szpiro
language : en
Publisher: Hachette UK
Release Date : 2011-11-29
Pricing The Future written by George G Szpiro and has been published by Hachette UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-29 with Business & Economics categories.
Options have been traded for hundreds of years, but investment decisions were based on gut feelings until the Nobel Prize -- winning discovery of the Black-Scholes options pricing model in 1973 ushered in the era of the "quants." Wall Street would never be the same. In Pricing the Future, financial economist George G. Szpiro tells the fascinating stories of the pioneers of mathematical finance who conducted the search for the elusive options pricing formula. From the broker's assistant who published the first mathematical explanation of financial markets to Albert Einstein and other scientists who looked for a way to explain the movement of atoms and molecules, Pricing the Future retraces the historical and intellectual developments that ultimately led to the widespread use of mathematical models to drive investment strategies on Wall Street.
Knowing The Odds
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Author : John B. Walsh
language : en
Publisher: American Mathematical Society
Release Date : 2023-08-16
Knowing The Odds written by John B. Walsh and has been published by American Mathematical Society this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-16 with Mathematics categories.
John Walsh, one of the great masters of the subject, has written a superb book on probability. It covers at a leisurely pace all the important topics that students need to know, and provides excellent examples. I regret his book was not available when I taught such a course myself, a few years ago. —Ioannis Karatzas, Columbia University In this wonderful book, John Walsh presents a panoramic view of Probability Theory, starting from basic facts on mean, median and mode, continuing with an excellent account of Markov chains and martingales, and culminating with Brownian motion. Throughout, the author's personal style is apparent; he manages to combine rigor with an emphasis on the key ideas so the reader never loses sight of the forest by being surrounded by too many trees. As noted in the preface, “To teach a course with pleasure, one should learn at the same time.” Indeed, almost all instructors will learn something new from the book (e.g. the potential-theoretic proof of Skorokhod embedding) and at the same time, it is attractive and approachable for students. —Yuval Peres, Microsoft With many examples in each section that enhance the presentation, this book is a welcome addition to the collection of books that serve the needs of advanced undergraduate as well as first year graduate students. The pace is leisurely which makes it more attractive as a text. —Srinivasa Varadhan, Courant Institute, New York This book covers in a leisurely manner all the standard material that one would want in a full year probability course with a slant towards applications in financial analysis at the graduate or senior undergraduate honors level. It contains a fair amount of measure theory and real analysis built in but it introduces sigma-fields, measure theory, and expectation in an especially elementary and intuitive way. A large variety of examples and exercises in each chapter enrich the presentation in the text.
Vinzenz Bronzin S Option Pricing Models
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Author : Wolfgang Hafner
language : en
Publisher: Springer Science & Business Media
Release Date : 2009-11-18
Vinzenz Bronzin S Option Pricing Models written by Wolfgang Hafner and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-18 with Business & Economics categories.
In 1908, Vinzenz Bronzin, a professor of mathematics at the Accademia di Commercio e Nautica in Trieste, published a booklet in German entitled Theorie der Prämiengeschäfte (Theory of Premium Contracts) which is an old type of option contract. Almost like Bachelier’s now famous dissertation (1900), the work seems to have been forgotten shortly after it was published. However, almost every element of modern option pricing can be found in Bronzin’s book. He derives option prices for an illustrative set of distributions, including the Normal. - This volume includes a reprint of the original German text, a translation, as well as an appreciation of Bronzin's work from various perspectives (economics, history of finance, sociology, economic history) including some details about the professional life and circumstances of the author. The book brings Bronzin's early work to light again and adds an almost forgotten piece of research to the theory of option pricing.
Investor Behavior
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Author : H. Kent Baker
language : en
Publisher: John Wiley & Sons
Release Date : 2014-02-10
Investor Behavior written by H. Kent Baker and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-10 with Business & Economics categories.
WINNER, Business: Personal Finance/Investing, 2015 USA Best Book Awards FINALIST, Business: Reference, 2015 USA Best Book Awards Investor Behavior provides readers with a comprehensive understanding and the latest research in the area of behavioral finance and investor decision making. Blending contributions from noted academics and experienced practitioners, this 30-chapter book will provide investment professionals with insights on how to understand and manage client behavior; a framework for interpreting financial market activity; and an in-depth understanding of this important new field of investment research. The book should also be of interest to academics, investors, and students. The book will cover the major principles of investor psychology, including heuristics, bounded rationality, regret theory, mental accounting, framing, prospect theory, and loss aversion. Specific sections of the book will delve into the role of personality traits, financial therapy, retirement planning, financial coaching, and emotions in investment decisions. Other topics covered include risk perception and tolerance, asset allocation decisions under inertia and inattention bias; evidenced based financial planning, motivation and satisfaction, behavioral investment management, and neurofinance. Contributions will delve into the behavioral underpinnings of various trading and investment topics including trader psychology, stock momentum, earnings surprises, and anomalies. The final chapters of the book examine new research on socially responsible investing, mutual funds, and real estate investing from a behavioral perspective. Empirical evidence and current literature about each type of investment issue are featured. Cited research studies are presented in a straightforward manner focusing on the comprehension of study findings, rather than on the details of mathematical frameworks.