Picture 1 of 1

Stock photo

Financial Market Complexity: What Physics Can Tell Us about Market Behaviour - Picture 1 of 1

Oxford Finance Ser.: Financial Market Complexity : What Physics Can Tell Us about Market Behaviour by Pak Ming Hui, Paul Jefferies and Neil F. Johnson (2003, Hardcover)

AlibrisBooks (456537)

98.5% positive Feedback

Price:

US $179.68

Approximately£132.40

+ $18.15 postage

Estimated delivery Mon, 30 Jun - Thu, 10 Jul

Returns:

30 days return. Buyer pays for return postage. If you use an eBay delivery label, it will be deducted from your refund amount.

Condition:

New

New Hard cover

About this product

Product Identifiers

PublisherOxford University Press, Incorporated

ISBN-100198526652

ISBN-139780198526650

eBay Product ID (ePID)2435956

Product Key Features

Number of Pages264 Pages

LanguageEnglish

Publication NameFinancial Market Complexity : What Physics Can Tell Us about Market Behaviour

Publication Year2003

SubjectFinance / General, Physics / Mathematical & Computational, Investments & Securities / General

TypeTextbook

AuthorPak Ming Hui, Paul Jefferies, Neil F. Johnson

Subject AreaScience, Business & Economics

SeriesOxford Finance Ser.

FormatHardcover

Dimensions

Item Height0.8 in

Item Weight21.2 Oz

Item Length9.4 in

Item Width6.6 in

Additional Product Features

Intended AudienceScholarly & Professional

LCCN2002-044694

ReviewsOverall, the book is distinguished by its lively and inspiring representation method. in combination with the wide spectrum of topics covered, these characteristics make this book a recommendable textbook.

Dewey Edition21

IllustratedYes

Dewey Decimal332.5/01/519

Table Of Content1. Financial markets as complex systems2. Standard finance theory3. A complex walk down Wall Street4. Financial market models with global interactions5. Financial market models with local interactions6. Non-zero risk in the real world7. Deterministic dynamics, chaos and crashes

SynopsisFinancial markets are a fascinating example of 'complexity in action': a real-world complex system whose evolution is dictated by the decisions of crowds of traders who are continually trying to win in a vast global 'game'. This book draws on recent ideas from the highly- topical science of complexity and complex systems, to address the following questions: how do financial markets behave? Why do financial markets behave in the way that they do? What can we do to minimize risk, given this behavior? Standard finance theory is built around several seemingly innocuous assumptions about market dynamics. This book shows how these assumptions can give misleading answers to crucially important practical problems such as minimizing financial risk, coping with extreme events such as crashes or drawdowns, and pricing derivatives. After discussing the background to the concept of complexity and the structure of financial markets in Chapter 1, Chapter 2 examines the assumptions upon which standard finance theory is built. Reality sets in which Chapter 3, where data from two seemingly different markets are analyzed and certain universal features uncovered which cannot be explained within standard finance theory. Chapters 4 and 5 mark a significant departure from the philosophy of standard finance theory, being concerned with exploring microscopic models of markets which are faithful to real market microstructure yet, which also reproduce real-world features. Chapter 6 moves to the practical problem of how to quantify and hedge risk in real world markets. Chapter 7 discusses deterministic descriptions of market dynamics, incorporating the topics of chaos and the all-important phenomenon of market crashes., Financial markets are a fascinating example of 'complexity in action': a real-world complex system whose evolution is dictated by the decisions of crowds of traders who are continually trying to win in a vast global 'game'. This book draws on recent ideas from the highly-topical science of complexity and complex systems, to address the following questions: how do financial markets behave? Why do financial markets behave in the way that they do? What can we do to minimize risk, given this behavior? Standard finance theory is built around several seemingly innocuous assumptions about market dynamics. This book shows how these assumptions can give misleading answers to crucially important practical problems such as minimizing financial risk, coping with extreme events such as crashes or drawdowns, and pricing derivatives. After discussing the background to the concept of complexity and the structure of financial markets in Chapter 1, Chapter 2 examines the assumptions upon which standard finance theory is built. Reality sets in whith Chapter 3, where data from two seemingly different markets are analyzed and certain universal features uncovered which cannot be explained within standard finance theory. Chapters 4 and 5 mark a significant departure from the philosophy of standard finance theory, being concerned with exploring microscopic models of markets which are faithful to real market microstructure yet, which also reproduce real-world features. Chapter 6 moves to the practical problem of how to quantify and hedge risk in real world markets. Chapter 7 discusses deterministic descriptions of market dynamics, incorporating the topics of chaos and the all-important phenomenon of market crashes., This book takes a fresh look at understanding how financial markets behave. Using recent ideas from the highly-topical science of complexity and complex systems, the book provides the basis for a unified theoretical description of how today's markets really work. Since financial markets are an excellent example of a complex system, the book also doubles as a science textbook.

LC Classification NumberHG176.5.J64 2003