Pricing the Future
Finance, Physics, and the 300-year Journey to the Black-Scholes Equation : A Story of Genius and Discovery
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.
Mathematician-turned-journalist Szpiro narrates the intellectual history behind the options pricing formula found by economists Fischer Black, Myron Scholes, and Robert Merton in 1973. Describing developments from the middle of the 17th century onwards, his narrative discusses mathematical efforts to understand the value of options, while emphasizing the role of specific personalities such as Robert Brown, Albert Einstein, MIT mathematician Norbert Wiener, Russian theorist of probability Andrey Kolmogorov, and Japanese mathematician Kiyoshi Ito. Annotation ©2012 Book News, Inc., Portland, OR (booknews.com)
From the critics
AgeAdd Age Suitability
There are no ages for this title yet.
SummaryAdd a Summary
There are no summaries for this title yet.
NoticesAdd a Notice
There are no notices for this title yet.
QuotesAdd a Quote
There are no quotes for this title yet.
VideosAdd a Video
There are no videos for this title yet.
Find it at NYPL
Buy It Now
Support your library, keep it forever!View Purchase Options Learn more about this program
Hello! We noticed you have the following items in your cart right now:
If you'd still like to purchase the items you have in your cart, you can do that now.
You'll be able to purchase your eBook after you have checked out your current cart.
To continue with your eBook purchase immediately, you can clear your cart by clicking below.
All items will be removed from your cart.
I'd like to keep browsing! I'll decide later.