The Physics of Wall Street 2013

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1、JAMESOWENWEAHowphysicstransformedfinance,andwhyitcouldpreventthenextcrisisTHEAFTERTHEECONOMICMELTDOWNof,manypunditsplacedtheof,manypunditsplacedtheblameoncomplexnancialinstrumentslikederivativesandthephysicistsandmathematicianswhodreamedthemup.ButayoungacademicnamedTHERALLJames

2、Weatherallbegantoquestionthisnarrative.Werethephysicistsreallyatfault?Inthisimportantandengagingbook,WeatheralltellsthestoryofhowPHSICSphysicistscametoWallStreetandhowtheirideaschangednanceforever.Takingusfromn-de-siècleParistoRatPackeraLasVegas,fromwartimeTHEPHYSICSOFWggovernmentlab

3、stoyippiecommunes,Weatherallshowshowphysicistssuc-overnmentlabstoyippiecommunes,Weatherallshowshowphysicistssuc-cescessfullybroughttheirsciencetobearonsomeofthethorniestproblemsinsfullybroughttheirsciencetobearonsomeofthethorniestproblemsinOFeeconomics,fromoptionspricingtobubbles.Butmod

4、elswhetherinsci-conomics,fromoptionspricingtobubbles.Butmodelswhetherinsci-enenceornancehavelimitations;theybreakdownundercertaincondi-ceornancehavelimitations;theybreakdownundercertaincondi-ttions.Andin,sophisticatedmodelsfellintothehandsofpeoplewhoions.Andin,sophisticatedmod

5、elsfellintothehandsofpeoplewhodidntunderstandtheirpurpose,anddidntcare.Itwasacatastrophicmisuseofscience.esolution,however,isnottogiveuponmodels;itstomakethembet-WLLter.AndWeatherallrevealsthepeopleandideasonthecuspofanewerainnance.ePhysicsofWallStreetisrivetinghistorythatwillchangeh

6、owwethinkaboutoureconomicfuture.ALLSTREET©CailinOConnorJAMESOWENWEATHERALLisaphysicist,philosopher,andmathematician.HeholdsgraduatedegreesfromHarvard,theStevensInstituteofTechnology,andtheUniversityofCalifor-STREETnia,Irvine,whereheispresentlyanassistantprofessoroflogicandphilosophyofsc

7、ience.HehaswrittenforSlateandScienticAmerican.CoverdesignbyBrianMooreABriefHistoryofPredictingNationalmediafromNewYork,LosAngeles,andSanFranciscoJANUARY»Publicationdate:January2,2013«theUnpredictablePublicitycontact:MichelleBonanno

8、(617)351-3832

9、michelle.bonanno@hmhpub.comISBN