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eBook Fractals and Scaling in Finance: Discontinuity, Concentration, Risk. Selecta Volume E download

by Benoit B. Mandelbrot,R.E. Gomory,P.H. Cootner,E.F. Fama,W.S. Morris,H.M. Taylor

eBook Fractals and Scaling in Finance: Discontinuity, Concentration, Risk. Selecta Volume E download ISBN: 1441931198
Author: Benoit B. Mandelbrot,R.E. Gomory,P.H. Cootner,E.F. Fama,W.S. Morris,H.M. Taylor
Publisher: Springer; Softcover reprint of hardcover 1st ed. 1997 edition (December 1, 2010)
Language: English
Pages: 551
ePub: 1146 kb
Fb2: 1918 kb
Rating: 4.9
Other formats: doc lrf lit rtf
Category: Math Sciences
Subcategory: Mathematics

Only 4 left in stock (more on the way). In fact,the Cauchy distribution is substantially more relevant than the normal distribution. Mandelbrot's work simply means that the standard.

Selecta Volume E Paperback – December 1, 2010. by Benoit B. Mandelbrot (Author), . Gomory (Foreword), . Cootner (Assistant), . Fama (Assistant), . Morris (Assistant), . Taylor (Assistant) & 3 more.

Selecta Volume E Hardcover – 1 September 1997.

Selected works of benoit b. mandelbrot reprinted . To tackle discontinuity and concentration, I conceived in the late fifties a tool that was already mentioned, but deserves elaboration. mandelbrot reprinted, translated or new with annotations and guest contributions companion to the fractal geometry of nature. Benoit B. Mandelbrot. Some are mentioned in M, Fisher & Calvet 1997.

Selecta Volume EPaperback – 1 December 2010. Cootner(Assistant), . Morris(Assistant), . Taylor(Assistant), Benoit B. Mandelbrot(Author), . Gomory(Foreword) & 2 more.

Selecta Volume E. Authors: Mandelbrot, Benoit .

All in all, this is a strange but wonderful book. PHYSICS TODAY) this is a most useful collection of Mandelbrot's work economics, it provides an excellent starting point for anybody interested in the origin of many current topics in empirical finance or the distribution of income. Mandelbrot, Benoit B.

Mandelbrot writes with economy and felicity, and he intersperses the more mathematical sections with frank . All in all, this is a strange but wonderful book.

Mandelbrot writes with economy and felicity, and he intersperses the more mathematical sections with frank historical anecdotes, such as the events that led up to his work on cotton pricing and the embarrassment caused by interpreting US Department of Agriculture data for weekly averages as 'Sunday closing prices. It will not suit everyone's taste but will almost surely teach every reader something new. What more can one ask?"

Selecta Volume E. Springer New York, 18 set 1997 - 552 pagine. This was a foretaste of the line of thought that eventually led to fractals and to the notion that major pieces of the physical world could be, and in fact could only be, modeled by distrib utions and sets that had fractional dimensions. Usually these distributions and sets were known to mathematicians, as they were known to me, as curiosities and counter-intuitive examples used to show graduate students the need for rigor in their proofs.

Benoit B. Mandelbrot, . Mandelbrot is world famous for his creation of the new mathematics of fractal geometry. This book brings together his original papers as well as many original chapters specifically written for this book. Springer Science & Business Media, Mar 9, 2013 - Mathematics - 551 pages.

Mandelbrot is world famous for his creation of the new mathematics of fractal geometry. Yet few people know that his original field of applied research was in econometrics and financial models, applying ideas of scaling and self-similarity to arrays of data generated by financial analyses. This book brings together his original papers as well as many original chapters specifically written for this book.

Comments: (7)
Ishnjurus
This was an interesting perspective from Mandelbrot about the inept models already used in the financial industry. I would love to find time to try these new ideas out in my models.

The book is quite technical and is really a collection of many research papers. So it is not for those who don't like calculus in their face.
Eseve
This book deserves to receive 6 stars.Mandelbrot serves up overwhelming empirical,statistical,and historical evidence that financial decision makers are dead wrong in assuming,contrary to the available evidence, that a normal probability distribution describes the outcomes accurately in financial markets .In fact,the Cauchy distribution is substantially more relevant than the normal distribution.Mandelbrot's work simply means that the standard theoretical models taught in all colleges and universities,the CAPITAL ASSET PRICING MODEL(CAPM) and the BLACK-SCHOLES equation, give correct answers if and only if the relevant probability distributions about the movement of prices in financial markets over time are all normal.However, the evidence shows that they are NOT normal.Mandelbrot confirms ,by massive data analysis, Keynes's original 1921 objections to the misuse in application of (by merely assuming the applicability of such a distribution without examining the actual data)the normal probability distribution made in chapters 29 and 30 of the A Treatise on Probability(1921).Unfortunately,it appears that little,if any ,of Mandelbrot's scientific approach and analysis is being integrated into economics and finance.
Owomed
Found the papers contained in the book filled in many of the blanks I had after reading some of the other Mandelbrot books. the math was tractable and not too difficult for a non expert. Overall, I would recommend this book to those wanting to get a better understanding of scalability and a basis for mild, soft and wild randomness.
Rainpick
An eye opener. Detailed, but at the same time quite easy to follow.
Sarin
Mandelbrot is always very bright. A pleasure to read. However...
The subject "per se" is quite irrelevant. Of course we know that a fractal is quite crazy, we know also that the walk of a particle subject to brownian motion is quite crazy. And we know that price is quite a crazy variable. Only, trying to predict price behaviour by means of other "crazy" behaviours is nonsense.
DrayLOVE
Failed to mention old musty smell of book. Wouldn't have purchased this copy, especially for price paid. Would expect seller to be more forthcoming.
Unsoo
The good side of Mandlebrot is that he is always entertaining, and this is no exception. The downside is that this entire book is based on a complete false premise. Even the most cursory glance at the literature of mathematical finance shows that the mainstream of financial mathematics is perfectly aware of the fact that distributions of returns are non-normal, but Mandlebrot pretends that this is some sort of great insight on his part and proceeds to attack the nonexistent misconception that things are otherwise.

Secondly, on the question of self-similarity and scaling: tick data at various level of scale do not look the same. At the scale of seconds or sub seconds the data look dramatically different to longer scales and it seems silly to suggest that this is truly fractal.