عنوان

The physics of Wall Street :

(Number (ISBN

0547317271

(Number (ISBN

9780547317274

Number

dltt

Title Proper

The physics of Wall Street :

General Material Designation

[Book]

Other Title Information

a brief history of predicting the unpredictable /

First Statement of Responsibility

James Owen Weatherall

Place of Publication, Distribution, etc.

Boston :

Name of Publisher, Distributor, etc.

Houghton Mifflin Harcourt,

Date of Publication, Distribution, etc.

2013

Specific Material Designation and Extent of Item

xviii, 286 p. ;

Dimensions

25 cm

Text of Note

Includes bibliographical references (p. [250]-268) and index

Text of Note

Of quants and other demons -- Primordial seeds -- Swimming upstream -- From coastlines to cotton prices -- Beating the dealer -- Physics hits the street -- The prediction company -- Tyranny of the Dragon King -- A new Manhattan project -- Send physics, math, and money!

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Text of Note

While many of the mathematicians and software engineers on Wall Street failed when their abstractions turned ugly in practice, a special breed of physicists has a much deeper history of revolutionizing finance. From fin-de-siècle Paris to Rat Pack-era Las Vegas, from wartime government labs to Yippie communes on the Pacific coast, Weatherall shows how physicists successfully brought their science to bear on some of the thorniest problems in economics, from options pricing to bubbles. The 2008 crisis was partly a failure of mathematical modeling, but even more, it was a failure of some very sophisticated financial institutions to think like physicists. 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, however, is not to give up on models; it's to make them better. Weatherall reveals the people and ideas on the cusp of a new era in finance. This book is riveting history that will change how we think about our economic future.--From publisher description

Securities-- United States

Wall Street (New York, N.Y.)

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Number

Edition

Class number

Book number

Weatherall, James Owen

Date of Transaction

20130109092045.0

Electronic name

[Book]

Y