The final prices may differ from the prices shown due to specifics of VAT rules About this book In The Medium of Contingency Elie Ayache builds upon his ground-breaking book The Blank Swan, in exploring the intersection of philosophy and finance, introducing new notions of price and market. Inverting the received view, he now sees a creation of matter in both the market and its metaphysics, rather than pure speculation. To bring this new and original perspective, The Medium of Contingency builds on probability theory as first formalized by von Mises and Kolmogorov, and later revisited by Shafer and Vovk. Then it completes the overturning of the traditional view of the market by arguing that there should be no difference, ultimately, between an underlying asset and the derivative written on it.
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I wrote it after finishing writing the book. I am not here, indeed, to cajole the reader, and least of all, to condescend to vulgarize my topic.
Want to Read Currently Reading Read. Toon meer Toon minder. This might also be the reason why I am so grandiloquent about the mundane fact of writing an option.
Another trader with a delusion of philosophical grandeur. Alle prijzen zijn inclusief BTW en andere heffingen en exclusief eventuele verzendkosten en servicekosten.
The book alsoestablishes the missing link between quantitative modelling nolonger dependent on probability theory but on a novel brand ofmathematics which Elie calls the mathematics of price andthe reality of the market. Only the market can, provided the story is told right. The best way to predict the Black Swan is to write it, claims Elie Ayache.
Reviews Schrijf een review. In winkelwagen Op verlanglijstje. Riccardo Rebonato Volatility and CorrelationJul 06, Bernd rated it did ajache like it Shelves: Alex Burns rated it it was ok Nov 03, In a word, I am as far as can be from claiming that writing derivatives, in the mundane sense of the word, should replace metaphysics. Most importantly, and drawing on a long tradition of philosophy of the event fromHenri Bergson to Gilles Deleuze, to Alain Badiou, and on a recentbrand of philosophy of contingency, ayach by the ekie of Ewan Meillassoux, Elie redefines the marketitself against the common perceptions of orthodox financial theory, general equilibrium theory and the sociology of finance.
Stefan marked it as to-read Mar 10, Candy Chiu marked it as to-read Jul 21, Guillaume rated it liked it Jan 14, Introducing a new voice in option language and the central question all quants need to ask.
Diego Navarro rated it liked it Jul 07, August 12, at 8: How can it be interpreted? Elie has published many articles in the philosophy of contingent claims, as well ayafhe a book, dedicated to the philosophy of writing. Nick Short marked it as to-read Oct 23, Welke opties voor jouw bestelling beschikbaar zijn, zie je bij het afronden van de bestelling. Jessica marked it as to-read Apr 08, This is not a trivializing of his philosophy or a recession to the correlationist circle.
Uncovering a broader view of probability by taking a lead from Quantitative Finance. Dan Tudball discusses the consequences of inverting our thinking about the market with Elie Ayache. Bekijk de hele lijst. Issa Davis rated it it was amazing Dec 29, Elie Ayache August 12, at 8: Experts everywhere sought to find the cause of the crisis, and ways to avoid a recurrence in the future, but the one thing that struck Elie that day was the belief that what actually happened on 19th October is simply non reproducible outside 19th October — you cannot reduce it to a chain of causes and effects that can then be reproduced or prevented in a theoretical model.
I think this ele where the metaphysical twist that my books proposes is clearest, even to my own eyes. TOP 10 Related.
ELIE AYACHE BLACK SWAN PDF
Start your review of The Blank Swan: The End of Probability Write a review Shelves: , business , critical-theory , economics , favorites , mathematics , philosophy This is a monster of a book. Ayache is for the most part clear, but it is not always clear to what he is saying. He lacks some of the basic organization he would need to create his own metaphorical system such as how Delueze and Guattari used the concept of plateaus. Because of this, Ayache says the same thing over and over in different ways, trying to convey This is a monster of a book. Because of this, Ayache says the same thing over and over in different ways, trying to convey the concept correctly.
The Blank Swan
Brooks Lockwood marked it as to-read Nov 14, No statistics can represent the abyss of the event. Uncovering a broader view of probability by taking a lead from Quantitative Finance. On this day the stock market crashed, the Nobel Prize winning Black-Scholes formula failed and volatility smiles were born, and on this day Eli Ayache began his career, blcak the trading floor of the French Futures and Options Exchange. Jake rated it really liked it Aug 25, In this revolutionary book, Elie redefines the components of the technology needed to price and trade derivatives.
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He does what philosophical inquiry has always done: to go the extra mile and look at the world in a deeply philosophical way. Insightful and insane in equal measures, this book is not an easy read. Paul Wilmott, author of Frequently Asked Questions in Quantitative Finance October 19th was a day of huge change for the global finance industry. On this day the stock market crashed, the Nobel Prize winning Black-Scholes formula failed and volatility smiles were born, and on this day Elie Ayache began his career, on the trading floor of the French Futures and Options Exchange.
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