{"product_id":"quantum-field-theory-for-economics-and-finance-hardback-9781108423151","title":"Quantum Field Theory for Economics and Finance (Hardback) 9781108423151","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eQuantum Field Theory for Economics and Finance\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cem\u003eAn introduction to how the mathematical tools from quantum field theory can be applied to economics and finance.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eBelal Ehsan Baaquie (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781108423151, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 23 August 2018\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e714 pages, 183 b\/w illus.  21 tables\u003cbr\u003e25.3 x 17.8 x 3.7 cm, 1.56 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e'This book could be just the volume for someone wanting to make the transition from calculating matrix elements to designing financial instruments, from spinors to swaps or from operators to options … The book's structure interleaves traditional lessons in quantum field theory with topics in econophysics, producing a rather novel result.' Stephen J. Blundell, Contemporary Physics\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eAn introduction to how the mathematical tools from quantum field theory can be applied to economics and finance, providing a wide range of quantum mathematical techniques for designing financial instruments. The ideas of Lagrangians, Hamiltonians, state spaces, operators and Feynman path integrals are demonstrated to be the mathematical underpinning of quantum field theory, and which are employed to formulate a comprehensive mathematical theory of asset pricing as well as of interest rates, which are validated by empirical evidence. Numerical algorithms and simulations are applied to the study of asset pricing models as well as of nonlinear interest rates. A range of economic and financial topics are shown to have quantum mechanical formulations, including options, coupon bonds, nonlinear interest rates, risky bonds and the microeconomic action functional. This is an invaluable resource for experts in quantitative finance and in mathematics who have no specialist knowledge of quantum field theory.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eForeword\u003cbr\u003e Preface\u003cbr\u003e Acknowledgements\u003cbr\u003e 1. Synopsis\u003cbr\u003e Part I. Introduction: 2. Quantum mechanics\u003cbr\u003e 3. Classical field theory\u003cbr\u003e 4. Acceleration action\u003cbr\u003e 5. Option theory\u003cbr\u003e 6. Path integral of asset prices\u003cbr\u003e Part II. Linear Quantum Fields: 7. Scalar quantum field\u003cbr\u003e 8. Dirac spinor field\u003cbr\u003e 9. Photon gauge field\u003cbr\u003e 10. Forward interest rates' quantum field\u003cbr\u003e 11. Risky interest rates' quantum fields\u003cbr\u003e 12. Bonds: index-linked stochastic coupons\u003cbr\u003e Part III. Nonlinear Quantum Fields: 13. Operator expectation and S matrix\u003cbr\u003e 14. Nonlinear scalar field: Feynman diagrams\u003cbr\u003e 15. Renormalization\u003cbr\u003e 16. ?-function\u003cbr\u003e fixed points\u003cbr\u003e 17. Renormalization group and phase transitions\u003cbr\u003e 18. Effective action\u003cbr\u003e 19. Nonlinear interest rates' quantum field\u003cbr\u003e 20. Simulation of nonlinear interest rates\u003cbr\u003e 21. Interest rates range accrual swap\u003cbr\u003e Part IV. 2D Quantum Fields: 22. Two dimensional quantum electrodynamics\u003cbr\u003e 23. Bosonic string theory\u003cbr\u003e 24. Futures asset prices\u003cbr\u003e 25. Epilogue\u003cbr\u003e References\u003cbr\u003e Index.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Statistical physics [\u003ca title=\"See our other books on Statistical physics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Statistical%20physics%20%5BPHS%5D%22\"\u003ePHS\u003c\/a\u003e], Economic statistics [\u003ca title=\"See our other books on Economic statistics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economic%20statistics%20%5BKCHS%5D%22\"\u003eKCHS\u003c\/a\u003e], Econometrics [\u003ca title=\"See our other books on Econometrics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Econometrics%20%5BKCH%5D%22\"\u003eKCH\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46003411976472,"sku":"9781108423151","price":134.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781108423151i.jpg?v=1696694931","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/quantum-field-theory-for-economics-and-finance-hardback-9781108423151","provider":"Freshly Printed Books","version":"1.0","type":"link"}