TY - BOOK UR - http://lib.ugent.be/catalog/ebk01:1000000000804109 ID - ebk01:1000000000804109 ET - Course Book. LA - eng TI - Louis Bachelier's Theory of Speculation : The Origins of Modern Finance PY - 2006 SN - 9781400829309 AU - Bachelier, Louis, author. AU - Davis, Mark, editor. AU - Etheridge, Alison, editor. AB - 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. ER -Download RIS file
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041 | a eng | ||
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100 | 1 | a Bachelier, Louis, e author. | |
245 | 1 | a Louis Bachelier's Theory of Speculation : b The Origins of Modern Finance / c Louis Bachelier, edited by Mark Davis, Alison Etheridge. | |
250 | a Course Book. | ||
264 | 1 | a Princeton, N.J. : b Princeton University Press, c [2006]. | |
264 | 4 | c ©2006. | |
300 | a 1 online resource (208 pages) : b illustrations. | ||
336 | a text 2 rdacontent | ||
337 | a computer 2 rdamedia | ||
338 | a online resource 2 rdacarrier | ||
347 | a text file b PDF 2 rda | ||
505 | t Frontmatter -- t Contents -- t Foreword / r Samuelson, Paul A. -- t Preface -- t Chapter One. Mathematics and Finance -- t Chapter Two. Théorie de la Spéculation -- t Chapter Three. From Bachelier to Kreps, Harrison and Pliska -- t Chapter Four. Facsimile of Bachelier’s Original Thesis -- t References. | ||
520 | a 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. | ||
533 | a Electronic reproduction. b Princeton, N.J. : c Princeton University Press, d 2006. n Mode of access: World Wide Web. n System requirements: Web browser. n Access may be restricted to users at subscribing institutions. | ||
538 | a Mode of access: Internet via World Wide Web. | ||
546 | a In English. | ||
588 | a Description based on online resource; title from PDF title page (publisher’s Web site, viewed October 27 2015) | ||
650 | a BUSINESS & x ECONOMICS v Finance. | ||
650 | a Finance x Mathematical models. | ||
650 | a Finances v Modèles mathématiques. | ||
650 | a MATHEMATICS x Mathematical Analysis. | ||
650 | a Spéculation v Modèles mathématiques. | ||
650 | a Speculation x Mathematical models. | ||
650 | 4 | a Business Management. | |
650 | 4 | a Finanzmathematik. | |
650 | 4 | a Public Finance and Fiscal Theory. | |
650 | 4 | a Rezeption. | |
650 | 4 | a Social Sciences. | |
650 | 4 | a Speculatie. | |
650 | 4 | a Spekulation. | |
650 | 4 | a Wirtschaft. | |
700 | 1 | a Davis, Mark, e editor. | |
700 | 1 | a Etheridge, Alison, e editor. | |
773 | 8 | i Title is part of eBook package: d De Gruyter t Princeton eBook Package Backlist 2000-2013 z 978-3-11-044250-2 | |
773 | 8 | i Title is part of eBook package: d De Gruyter t Princeton eBook Package Backlist 2000-2014 z 978-3-11-045953-1 | |
773 | 8 | i Title is part of eBook package: d De Gruyter t Princeton Univ. Press eBook Package 2000-2013 z 978-3-11-041343-4 | |
856 | 4 | u https://doi.org/10.1515/9781400829309 | |
856 | 4 | 2 | 3 Cover u https://www.degruyter.com/doc/cover/9781400829309.jpg |
912 | a 978-3-11-041343-4 Princeton Univ. Press eBook Package 2000-2013 | ||
912 | a 978-3-11-044250-2 Princeton eBook Package Backlist 2000-2013 | ||
912 | a 978-3-11-045953-1 Princeton eBook Package Backlist 2000-2014 | ||
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