Dynamics of Markets: Econophysics and Finance - Hardcover

McCauley, Joseph L.

Hardcover

ISBN 10: 0521824478 ISBN 13: 9780521824477

Verlag: Cambridge University Press, 2004

Inhaltsangabe

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. The neo-classical equilibrium model forms the theoretical basis for the positions of the US Treasury, the World Bank and the European Union, accepting it as their credo. It provides the theoretical underpinning for globalization, expecting to achieve the best of all possible worlds via the deregulation of all markets. In stark contrast, this text introduces a empirically based model of financial market dynamics that explains volatility, 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. This text is written for physics graduate students and finance specialists, but will also serve as a valuable resource for those with a less mathematical background.

Über diesen Titel

Über die Autorin bzw. den Autor

Joseph McCauley is Professor of Physics at the University of Houston, Texas.

Details zur Ausgabe

• Verlag: Cambridge University Press
• Erscheinungsdatum: 2004
• Sprache: Englisch
• ISBN 10: 0521824478
• ISBN 13: 9780521824477
• Einband: Tapa dura
• Anzahl der Seiten: 226
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Avery; https://www.avery.fr/; ; chemin des peupliers 27; Dardilly; Frankreich