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Synopsis
A book which reveals the people and ideas on the cusp of a new era in finance...After the economic meltdown of 2008, many pundits placed the blame on "complex financial instruments" like derivatives, and the physicists and mathematicians who dreamed them up. But a young academic named James Owen Weatherall quickly began to question this narrative. Were the physicists really at fault? In this important and engaging book, Weatherall tells the story of how physicists came to Wall Street and how their ideas changed finance forever. Taking us from fin-de-siecle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes, he shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. But models - whether in science or finance - have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn't understand their purpose, and didn't care. It was a catastrophic misuse of science. The solution, Weatherall argues in this brilliantly entertaining book, is not to give up on models; it is to simply make them better.
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About the Author
James Owen Weatherall is a physicist, philosopher, and mathematician. He holds graduate degrees from Harvard, the Stevens Institute of Technology, and the University of California, Irvine, where he is presently an assistant professor of logic and philosophy of science. He has written for Slate and Scientific American.
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- PublisherShort Books
- Publication date2013
- ISBN 10 1780721390
- ISBN 13 9781780721392
- BindingPaperback
- LanguageEnglish
- Number of pages286
- Rating
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The Physics of Finance: Predicting the Unpredictable: Can Science Beat the Market?
Seller: WorldofBooks, Goring-By-Sea, WS, United Kingdom
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Paperback. Condition: Very Good. The book has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Seller Inventory # GOR004904604
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The Physics Of Finance: Predicting The Unpredictable: Can Science Beat The Market?
Seller: Book Haven, Wellington, WLG, New Zealand
Seller rating 5 out of 5 stars
Paperback. Condition: Very Good. A young scholar tells the story of the physicists and mathematicians who created the models that have become the basis of modern finance and argues that these models are the solution to-not the source of-our current economic woes. 286 pages. Seller Inventory # 1574805
Quantity: 1 available