The Misbehavior of Markets: A Fractal View of Financial Turbulence
| AUTHOR | Hudson, Richard L.; Mandelbrot, Benoit |
| PUBLISHER | Basic Books (03/07/2006) |
| PRODUCT TYPE | Paperback (Paperback) |
Description
A groundbreaking mathematician presents a new model for understanding financial markets Benoit B. Mandelbrot is world-famous for inventing fractal geometry, making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these insights we can now add another example: Markets are not the safe bet your broker may claim. Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets--a set of mathematical assumptions a century old and still learned by every MBA and financier in the world--simply does not work. He uses fractal geometry to propose a new, more accurate way of describing market behavior. From the gyrations of the Dow to the dollar-euro exchange rate, Mandlebrot shows how to understand the volatility of markets in far more accurate terms than the failed theories that have repeatedly brought the financial system to the brink of disaster. The result is no less than the foundation for a new science of finance.
Show More
Product Format
Product Details
ISBN-13:
9780465043576
ISBN-10:
0465043577
Binding:
Paperback or Softback (Trade Paperback (Us))
Content Language:
English
More Product Details
Page Count:
368
Carton Quantity:
32
Product Dimensions:
5.80 x 1.10 x 9.20 inches
Weight:
0.85 pound(s)
Feature Codes:
Bibliography,
Index,
Annotated,
Price on Product,
Table of Contents,
Illustrated
Country of Origin:
US
Subject Information
BISAC Categories
Mathematics | General
Mathematics | Corporate Finance - General
Mathematics | Statistics
Dewey Decimal:
332.01
Descriptions, Reviews, Etc.
annotation
From the inventor/founder of fractal geometry comes an award-winning book that turns modern financial theory on its head.
Show More
publisher marketing
A groundbreaking mathematician presents a new model for understanding financial markets Benoit B. Mandelbrot is world-famous for inventing fractal geometry, making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these insights we can now add another example: Markets are not the safe bet your broker may claim. Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets--a set of mathematical assumptions a century old and still learned by every MBA and financier in the world--simply does not work. He uses fractal geometry to propose a new, more accurate way of describing market behavior. From the gyrations of the Dow to the dollar-euro exchange rate, Mandlebrot shows how to understand the volatility of markets in far more accurate terms than the failed theories that have repeatedly brought the financial system to the brink of disaster. The result is no less than the foundation for a new science of finance.
Show More
Author:
Hudson, Richard L.
Richard L. Hudson was the managing editor of the Wall Street Journal's European edition for six years and a Journal reporter and editor for twenty-five years. He is a 1978 graduate of Harvard University and a 1991 Knight Fellow of MIT. He lives in Brussels, Belgium.
Show More
List Price $19.99
Your Price
$19.79