Excerpt from: Lorenzo Peccati, Sandro Salsa, Annamaria Squellati Mathematics for Economics and Business 2016, Bocconi University Press 978-88-999-0210-0 Sandro Salsa, Annamaria Squellati Dynamical Systems and Optimal Control 2018, Bocconi University Press 978-88-999-0211-7
Today probability turns out to be one of the most pervasive mathematical topics. It actually affects a number of quite different fields, proving particularly relevant to courses ranging from Statistics to Economics, from Finance to Management Science. Recently it has even found significant applications in some sectors of Law. This book contains a short presentation of the most basic aspects of probability theory. As a result, it should come in handy and help students grasp the main concepts of the discipline as well as acquire a basic probabilistic vocabulary, thus capturing at least the flavour of possible relevant applications. The book includes a sketch of von Neumann Đ Morgenstern utility theory, which is useful per se as well as being an enlightening bridge between probability and decision theories. The book also provides a substantial set of exercises with solutions.
This book is aimed at students in social sciences programs that include some course in quantitative methods. Stats for social sciences is frequently the subject of textbooks, while maths for social sciences is often neglected: monographs on specific themes (like, for instance, social choice systems or game theory applications) are available, but they do not adequately cover the topic in general. This textbook stems from the Bocconi University’s new "Bachelor in Government", which was launched in 2015, and is intended for undergraduate students who do not exclude maths from their toolbox. It discusses various concrete applications in political economics, political science, sociology, and demography and explores topics like Grexit, Macron’s success, immigration effects and the Arab Spring.
This book draws lessons on the importance of meritocracy for economic growth by analysing Italy's economic decline in the past few decades. Connections, rather than merit, are a long-standing feature of the Italian elites, even in the corporate sector. This became a significant problem when Italy's economy could no longer grow due to imitation, devaluation, and public debt, and faced the challenges of becoming a frontier knowledge-based open economy. This book uses international comparisons on social capital, governance, the role of the public sector, efficiency of the judiciary, education, gender and social inequality, social mobility, corporate standards, financial structures, and more to evaluate Italy's economic performance. It argues that the arrogance of mediocracy is more damaging than that of meritocracy. Italy experienced an economic miracle after the Second World War, and it is still an advanced economy and a member of the G7. Until the 1960s it seemed destined to catch up with the best-performing countries. Then the growth engine stopped, its debt skyrocketed, and Italy became a weaker member of the Eurozone. Many other countries in the world have heavy historical legacies and low social capital, and many others have to make the jump from imitation led growth to endogenous growth. The lessons drawn from studying Italy's case can therefore have important international applications.
Lorenzo Valla (1407–1457) ranks among the greatest scholars and thinkers of the Renaissance. He secured lasting fame for his brilliant critical skills, most famously in his exposure of the “Donation of Constantine,” the forged document upon which the papacy based claims to political power. Lesser known in the English-speaking world is Valla’s work in the philosophy of language—the basis of his reputation as the greatest philosopher of the humanist movement. Dialectical Disputations, translated here for the first time into any modern language, is his principal contribution to the philosophy of language and logic. With this savage attack on the scholastic tradition of Aristotelian logic, Valla aimed to supersede it with a new logic based on the actual historical usage of classical Latin and on a commonsense approach to semantics and argument. Valla provides a logic that could be used by lawyers, preachers, statesmen, and others who needed to succeed in public debate—one that was stylistically correct and rhetorically elegant, and thus could dispense with the technical language of the scholastics, a “tribe of Peripatetics, perverters of natural meanings.” Valla’s reformed dialectic became a milestone in the development of humanist logic and contains startling anticipations of modern theories of semantics and language. Volume 1 contains Book I, in which Valla refutes Aristotle’s logical works on the categories, transcendentals, and predicables, with excursions into natural and moral philosophy and theology.
The rewards and dangers of speculating in the modern financial markets have come to the fore in recent times with the collapse of banks and bankruptcies of public corporations as a direct result of ill-judged investment. At the same time, individuals are paid huge sums to use their mathematical skills to make well-judged investment decisions. Here now is the first rigorous and accessible account of the mathematics behind the pricing, construction and hedging of derivative securities. Key concepts such as martingales, change of measure, and the Heath-Jarrow-Morton model are described with mathematical precision in a style tailored for market practitioners. Starting from discrete-time hedging on binary trees, continuous-time stock models (including Black-Scholes) are developed. Practicalities are stressed, including examples from stock, currency and interest rate markets, all accompanied by graphical illustrations with realistic data. A full glossary of probabilistic and financial terms is provided. This unique book will be an essential purchase for market practitioners, quantitative analysts, and derivatives traders.
Excerpt from: Lorenzo Peccati, Sandro Salsa, Annamaria Squellati Mathematics for Economics and Business 2016, Bocconi University Press 978-88-999-0210-0 Sandro Salsa, Annamaria Squellati Dynamical Systems and Optimal Control 2018, Bocconi University Press 978-88-999-0211-7
This book is aimed at students in social sciences programs that include some course in quantitative methods. Stats for social sciences is frequently the subject of textbooks, while maths for social sciences is often neglected: monographs on specific themes (like, for instance, social choice systems or game theory applications) are available, but they do not adequately cover the topic in general. This textbook stems from the Bocconi University’s new "Bachelor in Government", which was launched in 2015, and is intended for undergraduate students who do not exclude maths from their toolbox. It discusses various concrete applications in political economics, political science, sociology, and demography and explores topics like Grexit, Macron’s success, immigration effects and the Arab Spring.
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