Financial Markets and Martingales

Observations on Science and Speculation

Nicolas Bouleau

151 pages, parution le 13/02/2004

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Résumé

Is it really possible to make money on the financial markets? This is just one of the questions posed in this practical and thought-provoking book, winner in the original french version, of the ? Best financial economics book ? prize 1999 from the Institute de Haute Finance, and the Prix FNAC-Arthur Anderson du meilleur livre d'entreprise 2000. Starting with games of chance, from which probability theory was born, Nicolas Bouleau explains how the financial markets operate, and demonstrates how the application of mathematics has turned finance into a high-tech business, as well as a formidable and efficient tool. The human side of finance is also considered, with a look at the influence of the trader and the working relationships that are woven into the market rooms. Concise and accessible, with no previous knowledge of finance or mathematics required, the aim of this book is simply to articulate the main ideas and put them into perspective, leading readers to a fresh understanding of this complex area.

Written for:
Practitioners, students, libraries, institutions

L'auteur - Nicolas Bouleau

Nicolas Bouleau est mathématicien et philosophe des sciences. Professeur émérite à l'École des Ponts ParisTech, il y a dirigé pendant dix ans le centre de mathématiques qui fut un des premiers en France à travailler sur les nouvelles méthodes de la finance. Il est l'auteur de nombreux articles et ouvrages dont Mathématiques et risques financiers (Odile Jacob, 2009).

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Sommaire

Introduction
Part I: Martingales
- Luck in the Casino
- The Stock Market and Probability
- Mathematical Development Outside the Financial Sector
Part II: Option Hedging: An Epistemological Rupture
- The Unexpected Connection
- A Different Approach
- Hedging Risks Thanks to the Market
Part III: Science and Speculation
- A Complex Dynamic
- Illusions of Chance
- Three Types of Speculation
- Practical and Moral Values
Part IV: The Stakes and the Payoffs
- Markets and Economy
- The Special Role of Finance in the Production of Knowledge
- Power and Innocence in Finance
- Long Term Risks

Conclusion
Glossary
Bibliography
Index

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Springer
Auteur(s)	Nicolas Bouleau
Parution	13/02/2004
Nb. de pages	151
Format	17,5 x 23,5
Couverture	Broché
Poids	330g
Intérieur	Noir et Blanc
EAN13	9781852335823
ISBN13	978-1-85233-582-3