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From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful. In Mandelbrot's fractal models, the complex gyrations of IBM's stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.
Book purchase
The (mis)Behaviour of Markets, Benoît Mandelbrot, Richard L. Hudson
- Language
- Released
- 2004
- product-detail.submit-box.info.binding
- (Hardcover)
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- Language
- English
- Authors
- Benoît Mandelbrot, Richard L. Hudson
- Publisher
- Profile
- Released
- 2004
- Format
- Hardcover
- Pages
- 288
- ISBN10
- 1861977654
- ISBN13
- 9781861977656
- Series
- Tags
- Non-Fiction, Business, Business & Management, Science & Math, Science, Mathematics, Economics, Finance, Money
- Rating
- 4.05 out of 5
- Description
- From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful. In Mandelbrot's fractal models, the complex gyrations of IBM's stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.