Items related to Stochastic Processes: From Physics to Finance
From the reviews: "While this book is oriented toward students of physics, it could well be appreciated by a wider mathematical audience [...] The text offers a rare opportunity to have a unified and modern treatment of stochastic processes in physics and finance." Bulletin of Mathematics Books
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In the canonical theoretical physics course starting with classical mechanics and electrodynamics we become used to deterministic thinking. Even quantum mechanics, although statistical in nature, is often presented from a deterministic point of view. It is not until we get into contact with statistical physics that probabilistic concepts enter into the physical world. Probabilities evolving in time, i.e., stochastic processes, are rarely treated, despite the wide - and interdisciplinary - applicability of the concepts. A diffusion process description applies in the classical Brownian motion problem, in path (-integral) descriptions of non-relativistic quantum mechanics as well as in the celebrated Black-Scholes theory of option pricing in the financial market. This book aims at providing the student with a self-contained introduction (from a physicists point of view) into the basic mathematical concepts of probability theory and stochastic processes and their application in physics and finance. Emphasis is laid onto contrasting the ubiquituous Gaussian distribution and standard Brownian motion with fat-tailed or Levy-stable distributions and Levy-flights, which are at the center of many modern developments in statistical physics as well as in econophysics.
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BULLETIN OF MATHEMATICS BOOKS
"While this book is oriented toward students of physics, it could well be appreciated by a wider mathematical audience...The text offers a rare opportunity to have a unified and modern treatment of stochastic processes in physics and finance."
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- PublisherSpringer
- Publication date2010
- ISBN 10 3642085822
- ISBN 13 9783642085826
- BindingPaperback
- Number of pages246
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Stochastic Processes: From Physics to Finance by Paul, Wolfgang [Paperback ]
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Stochastic Processes : From Physics to Finance
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Book Description Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -From the reviews: 'While this book is oriented toward students of physics, it could well be appreciated by a wider mathematical audience [.] The text offers a rare opportunity to have a unified and modern treatment of stochastic processes in physics and finance.' Bulletin of Mathematics Books 248 pp. Englisch. Seller Inventory # 9783642085826
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Book Description Condition: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. This book has the potential to become a bestseller in finance mathematicsIt is the first book presenting the basics and applications of stochastic processes governing the development of finance and stock marketsFrom the reviews: While this book . Seller Inventory # 5047619
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Book Description Taschenbuch. Condition: Neu. Druck auf Anfrage Neuware - Printed after ordering - From the reviews: 'While this book is oriented toward students of physics, it could well be appreciated by a wider mathematical audience [.] The text offers a rare opportunity to have a unified and modern treatment of stochastic processes in physics and finance.' Bulletin of Mathematics Books. Seller Inventory # 9783642085826
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