Physics of Finance: Gauge Modelling in Non-Equilibrium Pricing Contributor(s): Illinski, Kirill (Author), Ilinski, Kirill (Author) |
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ISBN: 0471877387 ISBN-13: 9780471877387 Publisher: John Wiley & Sons OUR PRICE: $180.50 Product Type: Hardcover - Other Formats Published: February 2001 Annotation: In "Physics of Finance" Kirill Ilinski offers the first insight in book form into what could become a totally new approach to pricing financial assets. Equilibrium asset pricing is a cornerstone of contemporary finance and is widely used for a variety of purposes, from asset allocation to risk management. However, recent events, such as the collapse of Long Term Capital Management has prompted the need to re-examine the basic assumptions underlying equilibrium pricing. In response, and based on several year's research and work that applies the methods of theoretical physics to financial economics, the author has developed an important new approach that steps outside the equilibrium paradigm in finance. In Physics of Finance: Basic assumptions underlying equilibrium pricing are re-examined The risk factors hidden in the implications of equilibrium theory and the potential profit in unstable markets are discussed at length Gauge modelling, an important new approach to the problem of tackling non-equilibrium pricing, is introduced "Physics of Finance" has the potential to set off a new wave of thinking in financial circles. Written by a respected physicist and endorsed by highly regarded financial academics, this book will certainly generate heated debate and keen controversy in the financial community, both in academic and professional circles. Proving invaluable traders and financial engineers. Physics of Finance could be the first major step in a new journey in finance. ""The author applies field theory to non-equilibrium market dynamics thus opening an entirely new view on the subject. The result is a highly entertaining read packed with novel ideas. It will be a constantsource of inspiration for both theoretical physicists and financial analysts for years to come"" ""A fascinating book and an excellent read. Refreshingly different from the thousands of nondescript books on quantitative finance.""
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Additional Information |
BISAC Categories: - Business & Economics | Finance - General - Business & Economics | Accounting - General |
Dewey: 332.632 |
LCCN: 00043548 |
Series: Frontiers in Finance |
Physical Information: 0.81" H x 7" W x 10" (1.78 lbs) 352 pages |
Descriptions, Reviews, Etc. |
Publisher Description: Viele Methoden und Techniken, die in der internationalen Finanzwirtschaft eingesetzt werden, haben sich fest etabliert, aber keine ist perfekt. Physics of Finance bietet erstmals einen Einblick in eine vielversprechende und gänzlich neue Methode zur Preisbildung bei Kapitalanlagen: Die Anwendung aktueller physikalischer Techniken in der Finanzwelt. Illinski erhebt keinen Anspruch, auf alle Fragen eine Antwort zu haben, doch sicher wird sein Buch neue Anstö e geben. Eine interessante und inspirierende Lektüre für Finanzprofis. |