The Physics of Finance

The Physics of Finance : Predicting the Unpredictable: Can Science Beat the Market?

3.8 (1,257 ratings by Goodreads)

List price: US$20.88

Currently unavailable

We can notify you when this item is back in stock

Add to wishlist

AbeBooks may have this title (opens in new window).

Try AbeBooks

Description

A book which reveals the people and ideas on the cusp of a new era in finance...After the economic meltdown of 2008, many pundits placed the blame on "complex financial instruments" like derivatives, and the physicists and mathematicians who dreamed them up. But a young academic named James Owen Weatherall quickly began to question this narrative. Were the physicists really at fault? In this important and engaging book, Weatherall tells the story of how physicists came to Wall Street and how their ideas changed finance forever. Taking us from fin-de-siecle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes, he shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. But models - whether in science or finance - have limitations; they break down under certain conditions. And in 2008, sophisticated models fell into the hands of people who didn't understand their purpose, and didn't care. It was a catastrophic misuse of science. The solution, Weatherall argues in this brilliantly entertaining book, is not to give up on models; it is to simply make them better.
show more

Product details

  • Paperback | 304 pages
  • 137 x 215 x 23mm | 332g
  • London, United Kingdom
  • English
  • New ed.
  • 1780721390
  • 9781780721392
  • 521,605

Rating details

1,257 ratings
3.8 out of 5 stars
5 24% (296)
4 42% (528)
3 27% (342)
2 6% (77)
1 1% (14)
Book ratings by Goodreads
Goodreads is the world's largest site for readers with over 50 million reviews. We're featuring millions of their reader ratings on our book pages to help you find your new favourite book. Close X