The Blank Swan: The End of Probability

259 EGP In stock

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 ... more on CAIRO BOOKS

Buy it from CAIRO BOOKS
(0)
Report

Product Details

  • The best price of The Blank Swan: The End of Probability by CAIRO BOOKS in Egypt is 259 EGP
  • Available payment methods are
    Cash on Delivery
  • Delivery fees are 10 EGP, with delivery expected within 5-8 day(s)
  • Similar products to The Blank Swan: The End of Probability are sold at CAIRO BOOKS, Jumia with prices starting at 194.40 EGP
  • The first appearance of this product was on Aug 20, 2014
  • Amongst similar products of The Blank Swan: The End of Probability the cheapest price is 194.40 EGP from CAIRO BOOKS

CAIRO BOOKS's 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. Also, the book 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.

Reviews

    No reviews exist yet for this product.

    Similar Products

    ProductStorePricePayment methodsDelivery timeFees
    Introduction to Time Series Analysis and Forecasting, Solutions Manual (Wiley Series in Probability and Statistics)
    Introduction to Time Series Analysis and F...
    Store:CAIRO BOOKSPrice: 194.40 EGPPayment methodsCash on DeliveryDelivery time: 5-8 day(s) Fees : 10 EGP Buy it
    Introduction to Probability and Statistics for Engineers and Scientists, Fourth Edition
    Introduction to Probability and Statistics...
    Store:JumiaPrice: 816 EGPPayment methodsCash on DeliveryCredit CardE-PaymentDelivery time: 2-5 day(s) Fees : 15 EGP Buy it
    The Blank Swan: The End of ProbabilityThe Blank Swan: The End of Probability





    ... or add to a new wish list.