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In Pursuit of the Unknown: 17 Equations That Changed the World is a 2012 nonfiction book by British mathematician Ian Stewart FRS CMath FIMA, published by Basic Books. [3] In the book, Stewart traces the history of the role of mathematics in human history, beginning with the Pythagorean theorem (Pythagorean equation) [4] to the equation that transformed twenty-first century financial markets ...
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling in the financial field. In general, there exist two separate branches of finance that require advanced quantitative techniques: derivatives pricing on the one hand, and risk and portfolio ...
YouTube Music is a music streaming service developed by the American video platform YouTube, a subsidiary of Alphabet's Google. The service is designed with an interface that allows users to simultaneously explore music audios and music videos from YouTube-based genres, playlists and recommendations.
Econophysics is a non-orthodox (in economics) interdisciplinary research field, applying theories and methods originally developed by physicists in order to solve problems in economics, usually those including uncertainty or stochastic processes and nonlinear dynamics.
An important application of stochastic calculus is in mathematical finance, in which asset prices are often assumed to follow stochastic differential equations.For example, the Black–Scholes model prices options as if they follow a geometric Brownian motion, illustrating the opportunities and risks from applying stochastic calculus.
Lorenz curve for US wealth distribution in 2016 showing negative wealth and oligarchy. The Lorenz curve is a probability plot (a P–P plot) comparing the distribution of a variable against a hypothetical uniform distribution of that variable.
Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. [1] More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference."
The financial markets use stochastic models to represent the seemingly random behaviour of various financial assets, including the random behavior of the price of one currency compared to that of another (such as the price of US Dollar compared to that of the Euro), and also to represent random behaviour of interest rates.