Risk control and derivative pricing have become of major concern to financial institutions, and there is a real need for adequate statistical tools to measure and anticipate the amplitude of the potential moves of the financial markets. Summarising theoretical developments in the field, this 2003 second edition has been substantially expanded. Additional chapters now cover stochastic processes, Monte-Carlo methods, Black-Scholes theory, the theory of the yield curve, and Minority Game. There are discussions on aspects of data analysis, financial products, non-linear correlations, and herding, feedback and agent based models. This book has become a classic reference for graduate students and researchers working in econophysics and mathematical finance, and for quantitative analysts working on risk management, derivative pricing and quantitative trading strategies.
Examining Trenton's potters and pottery industry from 1850 to the Great Depression, Marc Stern chronicles industrialization in this competitive, skill-intensive trade. Nineteenth-century potting remained locked in conflicts between and among manufacturers and workers in which price wars and antiunionism invariably undid both the employers' trade associations and employee trade unions. The shift to specialization in sanitary pottery (bathtubs, sinks, and commodes) after 1900, however, saw employers and workers create a cooperative system, which virtually eliminated price wars, strikes, and lockouts. After World War I, competition, federal antitrust legislation, and increased consumer demand led Trenton's manufacturers to call for major concessions from their employees. In a disastrous move, the unionized sanitary pottery workers struck their shops in 1922 only to watch their employers introduce new technologies and less skilled workers. Meanwhile, federal litigation destroyed the trade associations market controls. Large national plumbing supply corporations quickly came to dominate the trade and displace the smaller, independent firms. Stressing the importance of the interaction of market conditions, state intervention, technology, and labor-capital relations. Stern corrects an often fragmented and distorted view of the transformation of this industry and offers a model for understanding the transformation of others.
This book summarizes recent theoretical developments inspired by statistical physics in the description of the potential moves in financial markets, and its application to derivative pricing and risk control. The possibility of accessing and processing huge quantities of data on financial markets opens the path to new methodologies where systematic comparison between theories and real data not only becomes possible, but mandatory. This book takes a physicist's point of view to financial risk by comparing theory with experiment. Starting with important results in probability theory, the authors discuss the statistical analysis of real data, the empirical determination of statistical laws, the definition of risk, the theory of optimal portfolio, and the problem of derivatives (forward contracts, options). This book will be of interest to physicists interested in finance, quantitative analysts in financial institutions, risk managers and graduate students in mathematical finance.
The heartwarming story behind J.K. Rowling's rise to fame—and the answers to Harry Potter fans' most burning questions! Harry Potter is loved throughout the world, and so is his creator. Joanne Kathleen (J.K.) Rowling is a true wizard, a woman who has the ability to recall vividly her days as a child and capture those wild, wonderful, difficult times—an ability that helps make her creation, Harry Potter, seem so real. In this revealing book, fans of the Harry Potter series will get to see their favorite author as they never have before. From a child with a wonderful imagination who didn't quite fit in, to a single mother with almost overwhelming responsibilities, J.K. Rowling and her story provide a wonderful chance for adults and children to enjoy a heartwarming, magical story. . . together. Inside are the answers to some of the most frequently asked questions: * Where did the idea for the Harry Potter series come from? * How the birth of her third child impacted her life * What's the latest on the top secret writing projects that will follow HARRY POTTER AND THE DEATHLY HALLOWS? * What are Joanne's feelings about the Harry Potter saga finally ending? *Which of the characters does J.K most identify with? *What is J.K. Rowling's simple rule about writing? *And much more!
Finding fault with everything in her small Hungarian village, Valeria becomes an inadvertent respected critic whose opinions are embraced by her neighbors, a situation that is thrown into upheaval when Valeria's approval of a humble potter's work reveals vulnerabilities throughout the community.
A biography of the creator of Harry Potter with information on Rowling's childhood, days as a student, struggles as a single mother, and astronomical rise to success, with insights into the Harry Potter books.
In sixty-eight years, Valeria has never minced her words. Harrumphing through her isolated little village deep in the Hungarian steppes, she clutches her shopping basket like a battering ram and leaves nothing uncriticised - flaccid vegetables at the market; idle farmers carousing in Ibolya's Nonstop Tavern; that gauche chimpanzee of a mayor and his flashy, leggy wife; people who whistle. But one day, her spinster's heart is struck by an unlikely arrow- the village potter, with his decisive hands and solid gaze. Valeria finds herself suddenly dressing in florals and touching her hair, and what's more, smiling at people in the street. The potter makes her the most beautiful vase she has ever seen. The farmers buy a celebratory round. The problem with all this is that Ibolya (herself at least fifty-eight) has been romancing the potter for months and vows to win him back. And then there's Ferenc, the sugar beet farmer, red-headed and married but all the same hopelessly in love with Ibolya. Meanwhile the mayor has his own problems, mostly involving foreign investors and a non-existent railway. And then a roving chimney sweep arrives in the village, to make a quick buck and bring some good luck - or perhaps bad luck; no one can really decide. All anyone knows is, there's never been such a hullabaloo, which just goes to show it's never too late to try something new.
Crossroads and Cultures: A History of the World’s Peoples incorporates the best current cultural history into a fresh and original narrative that connects global patterns of development with life on the ground. As the title, “Crossroads,” suggests, this new synthesis highlights the places and times where people exchanged goods and commodities, shared innovations and ideas, waged war and spread disease, and in doing so joined their lives to the broad sweep of global history. Students benefit from a strong pedagogical design, abundant maps and images, and special features that heighten the narrative’s attention to the lives and voices of the world’s peoples. Test drive a chapter today. Find out how.
Crossroads and Cultures: A History of the World’s Peoples incorporates the best current cultural history into a fresh and original narrative that connects global patterns of development with life on the ground. As the title, “Crossroads,” suggests, this new synthesis highlights the places and times where people exchanged goods and commodities, shared innovations and ideas, waged war and spread disease, and in doing so joined their lives to the broad sweep of global history. Students benefit from a strong pedagogical design, abundant maps and images, and special features that heighten the narrative’s attention to the lives and voices of the world’s peoples. Test drive a chapter today. Find out how.
Crossroads and Cultures: A History of the World’s Peoples incorporates the best current cultural history into a fresh and original narrative that connects global patterns of development with life on the ground. As the title, “Crossroads,” suggests, this new synthesis highlights the places and times where people exchanged goods and commodities, shared innovations and ideas, waged war and spread disease, and in doing so joined their lives to the broad sweep of global history. Students benefit from a strong pedagogical design, abundant maps and images, and special features that heighten the narrative’s attention to the lives and voices of the world’s peoples. Test drive a chapter today. Find out how.
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