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.
You’re item was added to pickup at [location]
You’re [amount] away from FREE shipping!
You qualify for FREE shipping!
Translation missing: en.settings.free_shipping_default_message
'This book could be just the volume for someone wanting to make the transition from calculating matrix elements to designing financial instruments, from spinors to swaps or from operators to options … The book’s structure interleaves traditional lessons in quantum field theory with topics in econophysics, producing a rather novel result.' Stephen J. Blundell, Contemporary Physics
You May Also Like
Previous
Next
Recently Viewed
Choosing a selection results in a full page refresh.
Opens in a new window.
eBooks from Indigo are available at Kobo.com
Simply sign in or create your free Kobo account to get started. Read eBooks on any Kobo eReader or with the free Kobo App.
Why Kobo?
With over 6 million of the world's best eBooks to choose from, Kobo offers you a whole world of reading. Go shelf-less with your library and enjoy reward points with every purchase.