menu

The Misbehavior of Markets : A Fractal View of Financial Turbulence
by Benoit Mandelbrot and Richard L. Hudson




Overview -
Benoit B. Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim.

In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are.

With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.

  Read Full Product Description
 
local_shippingFor Delivery
In Stock.
This item is Non-Returnable.
FREE Shipping for Club Members help
 
storeBuy Online Pickup At Store
search store by zipcode

 
 
New & Used Marketplace 19 copies from $5.90
 
 
 

More About The Misbehavior of Markets by Benoit Mandelbrot; Richard L. Hudson

 
 
 

Overview

Benoit B. Mandelbrot, one of the century's most influential mathematicians, is world-famous for making mathematical sense of a fact everybody knows but that geometers from Euclid on down had never assimilated: Clouds are not round, mountains are not cones, coastlines are not smooth. To these classic lines we can now add another example: Markets are not the safe bet your broker may claim.

In his first book for a general audience, Mandelbrot, with co-author Richard L. Hudson, shows how the dominant way of thinking about the behavior of markets-a set of mathematical assumptions a century old and still learned by every MBA and financier in the world-simply does not work. As he did for the physical world in his classic The Fractal Geometry of Nature, Mandelbrot here uses fractal geometry to propose a new, more accurate way of describing market behavior. The complex gyrations of IBM's stock price and the dollar-euro exchange rate can now be reduced to straightforward formulae that yield a far better model of how risky they are.

With his fractal tools, Mandelbrot has gotten to the bottom of how financial markets really work, and in doing so, he describes the volatile, dangerous (and strangely beautiful) properties that financial experts have never before accounted for. The result is no less than the foundation for a new science of finance.


This item is Non-Returnable.

 

Details

  • ISBN-13: 9780465043576
  • ISBN-10: 0465043577
  • Publisher: Basic Books
  • Publish Date: March 2006
  • Page Count: 368
  • Dimensions: 9.2 x 5.8 x 1.1 inches
  • Shipping Weight: 0.85 pounds


Related Categories

 

BAM Customer Reviews