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Quantum Finance
Path Integrals and Hamiltonians for Options and Interest Rates

$91.99 (P)

  • Date Published: July 2007
  • availability: Available
  • format: Paperback
  • isbn: 9780521714785

$ 91.99 (P)

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About the Authors
  • Financial mathematics is currently almost completely dominated by stochastic calculus. Presenting a completely independent approach, this book applies the mathematical and conceptual formalism of quantum mechanics and quantum field theory (with particular emphasis on the path integral) to the theory of options and to the modeling of interest rates. Many new results, accordingly, emerge from the author's perspective.

    • Applies the formalism of quantum mechanics and quantum field theory to finance
    • Contains a detailed discussion on the empirical aspects of the forward rate curve and comparison of the field theory model with market data
    • Addresses many problems in finance that cannot be solved using other approaches
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    Product details

    • Date Published: July 2007
    • format: Paperback
    • isbn: 9780521714785
    • length: 336 pages
    • dimensions: 244 x 170 x 18 mm
    • weight: 0.54kg
    • contains: 5 tables
    • availability: Available
  • Table of Contents

    1. Synopsis
    Part I. Fundamental Concepts of Finance:
    2. Introduction to finance
    3. Derivative securities
    Part II. Systems with Finite Number of Degrees of Freedom:
    4. Hamiltonians and stock options
    5. Path integrals and stock options
    6. Stochastic interest rates' Hamiltonians and path integrals
    Part III. Quantum Field Theory of Interest Rates Models:
    7. Quantum field theory of forward interest rates
    8. Empirical forward interest rates and field theory models
    9. Field theory of Treasury Bonds' derivatives and hedging
    10. Field theory Hamiltonian of forward interest rates
    11. Conclusions
    Appendix A: mathematical background
    Brief glossary of financial terms
    Brief glossary of physics terms
    List of main symbols

  • Author

    Belal E. Baaquie, National University of Singapore
    BELAL BAAQUIE earned his PhD in Theoretical Physics from Cornell University. He has published over fifty papers in leading international journals on quantum field theory and related topics, and since 1997 has regularly published papers on applying quantum field theory to both the theoretical and empirical aspects of finance. He helped to launch the International Journal of Theoretical and Applied Finance in 1998 and continues to be one of the Managing Editors.

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