The (mis)behaviour of Markets: A Fractal View of Risk, Ruin and Reward
- ISBN-10
- 1861977654
- ISBN-13
- 9781861977656
- Category
- Capital market
- Pages
- 328
- Language
- English
- Published
- 2004-01-01
- Authors
- Benoît B. Mandelbrot, Richard L. Hudson
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.
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Other editions
-
- 2010-10-01
- 352 pages
- Paperback
- Profile Books
-
- 2008
- 326 pages
- Paperback
- Profile Books(GB)
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