Quantum Field Theory For Economics And Finance
Quantum Field Theory For Economics And Finance

Quantum Field Theory For Economics And Finance

  • Publish Date: 2018-09-27
  • Binding: Hardcover
  • Author: Belal Ehsan Baaquie
Vendor
Cambridge University Press
Regular price
$219.69
Sale price
$171.64
Quantity must be 1 or more

Attention: For textbook, access codes and supplements are not guaranteed with used items.

Arrives in 3-7 Business Days

An introduction to how the mathematical tools from quantum field theory can be applied to economics and finance, providing a wide range of quantum mathematical techniques for designing financial instruments. The ideas of Lagrangians, Hamiltonians, state spaces, operators and Feynman path integrals are demonstrated to be the mathematical underpinning of quantum field theory, and which are employed to formulate a comprehensive mathematical theory of asset pricing as well as of interest rates, which are validated by empirical evidence. Numerical algorithms and simulations are applied to the study of asset pricing models as well as of nonlinear interest rates. A range of economic and financial topics are shown to have quantum mechanical formulations, including options, coupon bonds, nonlinear interest rates, risky bonds and the microeconomic action functional. This is an invaluable resource for experts in quantitative finance and in mathematics who have no specialist knowledge of quantum field theory.

Customer Reviews