Dynamics of Markets : Econophysics and Finance
Dynamics of Markets : Econophysics and Finance
Editorial Reviews
Review
'... a refreshing text about the main ideas of econophysics'. International Statistical Institute
' ... not merely an incremental improvement, but is completely new and a major improvement of the Black-Scholes theory.' Zentralblatt fur Mathematik
Book Description
Standard texts and research in economics and finance ignore the absence of evidence from the analysis of real, unmassaged market data to support the notion of Adam Smith's stabilizing Invisible Hand. In stark contrast, this text introduces a new empirically-based model of financial market dynamics that explains the volatility of prices options correctly and clarifies the instability of financial markets. The emphasis is on understanding how real markets behave, not how they hypothetically 'should' behave.
Dynamics of Markets : Econophysics and Finance
Dynamics of Markets : Econophysics and Finance,Joseph L. McCauley,Cambridge University Press,0521824478,Business mathematics,Finance,Markets,Mathematical models,Physics,Science,Science/Mathematics,Statistical methods,Applied physics & special topics,Econometrics,Economic forecasting,Economic theory & philosophy,Science / Physics,Statistical physics
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