Pricing the Future: Finance, Physics, and the 300-year Journey to the Black-Scholes Equation
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.
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PRICING THE FUTURE: Finance, Physics, and the 300-Year Journey to the Black-Scholes EquationUser Review - Jane Doe - Kirkus
Mathematician and financial economist Szpiro (Numbers Rule: The Vexing Mathematics of Democracy, From Plato to the Present, 2010, etc.) chronicles the co-evolution of modern finance, physics and ... Read full review
one Flowers and Spices
two In the Beginning
three From Rags to Riches
four The Bankers Secretary
seven Disco Dancers and Strobe Lights
eight The Overlooked Thesis
nine Another Pioneer
eleven Accounting for Randomness
twelve The Sealed Envelope