Bøker av Louis Bachelier

Une exploration de l'histoire du commerce de Bordeaux, depuis ses débuts jusqu'à aujourd'hui, et de l'influence qu'elle a eu sur la ville et la France.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

French doctoral student, Louis Bachelier, successfully defended his thesis Th├⌐orie de la Sp├⌐culation at the Sorbonne. This book provides a new translation of Bachelier''s seminal work.Bachelier''s thesis is a remarkable document on two counts. In mathematical terms Bachelier''s achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973.This book offers great insight into the historical developments of probability and mathematical finance.  

WORK IS IN FRENCH This book is a reproduction of a work published before 1920 and is part of a collection of books reprinted and edited by Hachette Livre, in the framework of a partnership with the National Library of France, providing the opportunity to access old and often rare books from the BnF's heritage funds.

March 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis Theorie de la Speculation at the Sorbonne. The jury, while noting that the topic was "e;far away from those usually considered by our candidates,"e; appreciated its high degree of originality. This book provides a new translation, with commentary and background, of Bachelier's seminal work. Bachelier's thesis is a remarkable document on two counts. In mathematical terms Bachelier's achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973, the first decisive advance since 1900. Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete. The story is a curious one. The economic side of Bachelier's work was ignored until its rediscovery by financial economists more than fifty years later. The results were spectacular: within twenty-five years the whole theory was worked out, and a multibillion-dollar global industry of option trading had emerged.