The Math of Money : Making Mathematical Sense of Your Personal Finances

Morton D Davis

ISBN 10: 0387950788 / ISBN 13: 9780387950785

Published by Springer New York Jun 2001, 2001

About this Item

Neuware - The Math of Money is filled with what at first glance looks like anomaly and paradox, but it ends up showing us that a good deal of what we consider common sense actually make no sense at all. With a wealth of entertaining and counterintuitive examples, it delights as well as informs, and will help readers treat their financial resources more rationally.

Seller Inventory # 9780387950785

Bibliographic Details

• Title: The Math of Money : Making Mathematical Sense of Your Personal Finances
• Publisher: Springer New York Jun 2001
• Publication Date: 2001
• Language: English
• ISBN 10: 0387950788
• ISBN 13: 9780387950785
• Binding: Buch
• Condition: Neu
• Dimensions: 243W x 166H x 20D millimeters 243 millimeters width by 166 millimeters height by 20 millimeters depth
• Weight: 457 grams

About this title

Synopsis

This book reflects one mathematician's view of certain areas of economics and finance. It is not a how-to book, it is not exhaustive or rigorous, and it comes with no guarantee of instant wealth. It tries to maximize the use of the reader's imagination and minimize rote calculation. Although some mathematical background is assumed, ordinary high school algebra will usually suffice. Whenever possible, a verbal rather than a mathematical explanation is given, but where formulas serve a useful purpose they are introduced without derivation or apology. We are primarily concerned with concepts rather than applications, so many topics of practical importance are omitted or papered over-we do not worry about taxes, commissions, and fees and we assume an ideal world in which assets can always be bought at the same price for which they can be sold, and where loans have the same interest rate whether you make them or take them. On the other hand, we sniff out paradoxes and anomalies that chal­ lenge our intuition. At the beginning of each chapter we generally pose a few problems that are discussed later in the text. The reader is invited to use his "common sense" to find solutions to these problems. Those who accept the challenge may find their intuition is at odds with the solution more often than they expect. We hope the solutions surprise the readers and whet their appetites for further exploring. Does this mean that the book is of no practical interest? Not at all.

About the Author

Morton D. Davis is Professor Emeritus of Mathematics at the City College of New York (CUNY) and the author of Game Theory: A Nontechnical Introduction, Mathematically Speaking, and The Art of Decision Making (Springer-Verlag, 1986).