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Books > Science & Mathematics > Physics > Quantum physics (quantum mechanics)
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Quantum Field Theory for Economics and Finance (Hardcover)
Loot Price: R5,288
Discovery Miles 52 880
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Quantum Field Theory for Economics and Finance (Hardcover)
Expected to ship within 12 - 19 working days
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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.
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