The Blank Swan

Released on by Elie Ayache
preview-18

  • The Blank Swan Book Detail

  • Author : Elie Ayache
  • Release Date : 2010-05-17
  • Publisher : John Wiley & Sons
  • Genre : Business & Economics
  • Pages : 501
  • ISBN 13 : 0470725222
  • File Size : 28,28 MB
DOWNLOAD BOOK

The Blank Swan by Elie Ayache PDF Summary

Book Description: October 19th 1987 was a day of huge change for the global finance industry. On this day the stock market crashed, the Nobel Prize winning Black-Scholes formula failed and volatility smiles were born, and on this day Elie Ayache began his career, on the trading floor of the French Futures and Options Exchange. Experts everywhere sought to find a model for this event, and ways to simulate it in order to avoid a recurrence in the future, but the one thing that struck Elie that day was the belief that what actually happened on 19th October 1987 is simply non reproducible outside 19th October 1987 - you cannot reduce it to a chain of causes and effects, or even to a random generator, that can then be reproduced or represented in a theoretical framework. The Blank Swan is Elie's highly original treatise on the financial markets presenting a totally revolutionary rethinking of derivative pricing and technology. It is not a diatribe against Nassim Taleb's The Black Swan, but criticises the whole background or framework of predictable and unpredictable events white and black swans alike , i.e. the very category of prediction. In this revolutionary book, Elie redefines the components of the technology needed to price and trade derivatives. Most importantly, and drawing on a long tradition of philosophy of the event from Henri Bergson to Gilles Deleuze, to Alain Badiou, and on a recent brand of philosophy of contingency, embodied by the speculative materialism of Quentin Meillassoux, Elie redefines the market itself against the common perceptions of orthodox financial theory, general equilibrium theory and the sociology of finance. This book will change the way that we think about derivatives and approach the market. If anything, derivatives should be renamed contingent claims, where contingency is now absolute and no longer derivative, and the market is just its medium. The book also establishes the missing link between quantitative modelling (no longer dependent on probability theory but on a novel brand of mathematics which Elie calls the mathematics of price) and the reality of the market.

Disclaimer: www.yourbookbest.com does not own The Blank Swan books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

The Blank Swan

The Blank Swan

File Size : 68,68 MB
Total View : 6055 Views
DOWNLOAD

October 19th 1987 was a day of huge change for the global finance industry. On this day the stock market crashed, the Nobel Prize winning Black-Scholes formula

The Black Swan

The Black Swan

File Size : 28,28 MB
Total View : 564 Views
DOWNLOAD

After his wife's untimely death, a powerful sorcerer dedicates his life to seeking revenge against all womankind. He turns his captives into beautiful swans--wh

The Black Swan of Paris

The Black Swan of Paris

File Size : 36,36 MB
Total View : 4187 Views
DOWNLOAD

An exquisite WWII novel illuminating the strength of three women in occupied Paris, for fans of The Nightingale, The Alice Network and The Lost Girls of Paris.

The Black Swan

The Black Swan

File Size : 92,92 MB
Total View : 9920 Views
DOWNLOAD

When Priscilla Harradine travels back to England on the Centaur she has no cause to expect her journey will be remotely eventful. But also on board is Charles d

Incerto 4-Book Bundle

Incerto 4-Book Bundle

File Size : 25,25 MB
Total View : 4947 Views
DOWNLOAD

Nassim Nicholas Taleb’s landmark Incerto series is an investigation of luck, uncertainty, probability, opacity, human error, risk, disorder, and decision-maki