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Estimated delivery time: In stock at the publisher, but not at Prospero's office. Delivery time approx. 3-5 weeks.
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Product details:
- Publisher OUP Oxford
- Date of Publication 24 January 2019
- ISBN 9780198787945
- Binding Paperback
- No. of pages160 pages
- Size 175x114x10 mm
- Weight 126 g
- Language English
- Illustrations 41 black and white images 0
Categories
Short description:
Now a vital part of modern economies, the rapid growth of the finance industry in recent decades is largely due to the development of mathematical methods such as the theory of arbitrage. Asset valuation, credit trading, and fund management, now depend on these mathematical tools. Mark Davis explains the theories and their applications.
MoreLong description:
In recent years the finance industry has mushroomed to become an important part of modern economies, and many science and engineering graduates have joined the industry as quantitative analysts, with mathematical and computational skills that are needed to solve complex problems of asset valuation and risk management. An important parallel story exists of scientific endeavour. Between 1965-1995, insightful ideas in economics about asset valuation were turned into a mathematical 'theory of arbitrage', an enterprise whose first achievement was the famous 1973 Black-Scholes formula, followed by extensive investigations using all the resources of modern analysis and probability. The growth of the finance industry proceeded hand-in-hand with these developments. Now new challenges arise to deal with the fallout from the 2008 financial crisis and to take advantage of new technology, which has revolutionized the practice of trading.
This Very Short Introduction introduces readers with no previous background in this area to arbitrage theory and why it works the way it does. Illuminating pricing theory, Mark Davis explains its applications to interest rates, credit trading, fund management and risk management. He concludes with a survey of the most pressing issues in mathematical finance today.
ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
Only a scholar of the highest order could provide the depth, breadth, clarity, precision, and brevity to be found in this work. Enjoy the resulting gem.
Table of Contents:
Preface
Money, banking, and financial markets
Quantifying risks
The classical theory of option pricing
Interest rates
Credit risk
Fund management
Risk management
The banking crisis and its aftermatch
Epilogue
Further reading
Index
