The (Mis) Behaviour of Markets: A Fraactaal View of Risk, Ruin and Reward

Mandelbrot, Benoit B.; Hudson Richard L.

ISBN 10: 1861977654 / ISBN 13: 9781861977656

Editore: Profile Books LTD, London, 2004

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328pp. Tips and spine ends are bumped and rubbed. Top edge of rear board is bumped. Edges of jacket have creases. Jacket has heavy scratches. Text is unmarked. Codice articolo 33355

Dati bibliografici

Titolo: The (Mis) Behaviour of Markets: A Fraactaal ...

Casa editrice: Profile Books LTD, London

Data di pubblicazione: 2004

Legatura: Hardcover

Condizione: Very Good

Condizione sovraccoperta: Very Good Jacket

Edizione: First Edition.

Descrizione articolo

Riassunto:

From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful. In Mandelbrot's fractal models, the complex gyrations of IBM's stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.

Recensione:

Entertainingly written ... this book is a brain-opener that adds hugely to our sum of knowledge. (Director)

Surprisingly entertaining ... As the founder of fractal geometry and the discoverer of the Mandelbrot set Mandelbrot is acknowledged as the father of chaos theory ... he is, simply, very clever indeed. (Martin Baker Sunday Telegraph)

The reader gets a clear picture of the history of finance theory ... the best financial read since Nassim Nicholas Taleb's Fooled by Randomness. (Philip Coggan Financial Times)

One of the 20th century's most celebrated mathematicians ... devastating analysis. (Financial Times)