| Quantum Field Theory for Economics and Finance Contributor(s): Baaquie, Belal Ehsan (Author) |
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ISBN: 1108423159 ISBN-13: 9781108423151 Publisher: Cambridge University Press OUR PRICE: $210.90 Product Type: Hardcover - Other Formats Published: September 2018 |
| Additional Information |
| BISAC Categories: - Science | Physics - Mathematical & Computational - Business & Economics | Economics - General |
| Dewey: 330.015 |
| LCCN: 2017061436 |
| Physical Information: 1.45" H x 6.96" W x 9.48" (3.43 lbs) 714 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: 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. |
Contributor Bio(s): Baaquie, Belal Ehsan: - Belal Ehsan Baaquie is a Professor at The International Centre for Education in Islamic Finance. He received his training in theoretical physics at the California Institute of Technology and Cornell University, New York, specializing in quantum field theory. He later developed an interest in finance and economics, and started applying quantum mathematics to these fields. He has written two books on quantum finance: Quantum Finance (Cambridge, 2007) and Interest Rates and Coupon Bonds in Quantum Finance (Cambridge, 2009) in addition to several other books focusing on topics from quantum mechanics and mathematics to books on the leading ideas in science. |