The Brownian Motion
A Rigorous but Gentle Introduction for Economists
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Beschreibung
This open access textbook is the first to provide Business and Economics Ph.D. students with a precise and intuitive introduction to the formal backgrounds of modern financial theory. It explains Brownian motion, random processes, measures, and Lebesgue integrals intuitively, but without sacrificing the necessary mathematical formalism, making them accessible for readers with little or no previous knowledge of the field. It also includes mathematical definitions and the hidden stories behind the terms discussing why the theories are presented in specific ways.
This open access textbook is the first to provide Business and Economics Ph.D. students with a precise and intuitive introduction to the formal backgrounds of modern financial theory. It explains Brownian motion, random processes, measures, and Lebesgue integrals intuitively, but without sacrificing the necessary mathematical formalism, making them accessible for readers with little or no previous knowledge of the field. It also includes mathematical definitions and the hidden stories behind the terms discussing why the theories are presented in specific ways.
Explains the mathematical background of modern financial theory Provides numerous illustrative examples that can be understood with basic mathematical knowledge Focusses on the practice by abstaining from elaborating proofs
Autor*in
Andreas Löffler
Themen in »The Brownian Motion«
Brownian motion Lebesgue integral Random variables Measurement theory Set theory Financial theory Stochastics Expectation Wiener construction Measures Open Access quantitative finance
Stimmen zu »The Brownian Motion«
“The textbook is excellent for economists and financial economists who want to understand a little deeper in the Brownian motion with this soft introduction.” (Weiping Li, zbMATH 1426.91005, 2020)
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