{"title":"Louis Bachelier","description":null,"products":[{"product_id":"louis-bachelier-s-theory-of-speculation-book-louis-bachelier-9785694511254","title":"Louis Bachelier's Theory of Speculation","description":"\u003cp\u003eMarch 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis \u003ci\u003eTh orie de la Sp culation\u003c\/i\u003e at the Sorbonne. The jury, while noting that the topic was far away from those usually considered by our candidates, appreciated its high degree of originality. This book provides a new translation, with commentary and background, of Bachelier's seminal work. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e Bachelier's thesis is a remarkable document on two counts. In mathematical terms Bachelier's achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973, the first decisive advance since 1900. \u003cp\u003e\u003c\/p\u003e Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete. The story is a curious one. The economic side of Bachelier's work was ignored until its rediscovery by financial economists more than fifty years later. The results were spectacular: within twenty-five years the whole theory was worked out, and a multibillion-dollar global industry of option trading had emerged.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51063681483025,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51063684759825,"sku":"NIN9785694511254","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/5694511255.jpg?v=1751351031"},{"product_id":"histoire-du-commerce-de-bordeaux-depuis-les-temps-les-plus-recules-jusqu-a-nos-j-book-louis-bachelier-9781021605849","title":"Histoire Du Commerce De Bordeaux Depuis Les Temps Les Plus Reculés Jusqu'à Nos Jours","description":null,"brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51128816042257,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51128819155217,"sku":"NIN9781021605849","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1021605840.jpg?v=1750918412"},{"product_id":"jeu-la-chance-et-le-hasard-book-louis-bachelier-9781015896635","title":"Le Jeu, La Chance Et Le Hasard...","description":"\u003cp\u003eThis work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.\u003c\/p\u003e\u003cp\u003eThis work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.\u003c\/p\u003e\u003cp\u003eScholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51271341080849,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51271342981393,"sku":"NIN9781015896635","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1015896634.jpg?v=1751141817"},{"product_id":"louis-bachelier-s-theory-of-speculation-book-louis-bachelier-9780691117522","title":"Louis Bachelier's Theory of Speculation","description":"March 29, 1900, is considered by many to be the day mathematical finance was born. On that day a French doctoral student, Louis Bachelier, successfully defended his thesis Theorie de la Speculation at the Sorbonne. The jury, while noting that the topic was \"far away from those usually considered by our candidates,\" appreciated its high degree of originality. This book provides a new translation, with commentary and background, of Bachelier's seminal work. Bachelier's thesis is a remarkable document on two counts. In mathematical terms Bachelier's achievement was to introduce many of the concepts of what is now known as stochastic analysis. His purpose, however, was to give a theory for the valuation of financial options. He came up with a formula that is both correct on its own terms and surprisingly close to the Nobel Prize-winning solution to the option pricing problem by Fischer Black, Myron Scholes, and Robert Merton in 1973, the first decisive advance since 1900. Aside from providing an accurate and accessible translation, this book traces the twin-track intellectual history of stochastic analysis and financial economics, starting with Bachelier in 1900 and ending in the 1980s when the theory of option pricing was substantially complete. The story is a curious one. The economic side of Bachelier's work was ignored until its rediscovery by financial economists more than fifty years later. The results were spectacular: within twenty-five years the whole theory was worked out, and a multibillion-dollar global industry of option trading had emerged.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51421476978961,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":51421478322449,"sku":"CIN0691117527VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ NEW \/ INGRAM","offer_id":52736553550097,"sku":"NIN9780691117522","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0691117527.jpg?v=1750977111"},{"product_id":"le-jeu-la-chance-et-le-hasard-book-louis-bachelier-9782013685993","title":"Le Jeu, La Chance Et Le Hasard","description":"Le jeu, la chance et le hasard \/ Louis Bachelier, ...\u003cbr\u003eDate de l'edition originale: 1914\u003cbr\u003eSujet de l'ouvrage: Theorie des jeux\u003cbr\u003e\u003ci\u003eCollection: Bibliotheque de philosophie scientifique\u003c\/i\u003e\u003cbr\u003e\u003cbr\u003eCe livre est la reproduction fidele d'une oeuvre publiee avant 1920 et fait partie d'une collection de livres reimprimes a la demande editee par Hachette Livre, dans le cadre d'un partenariat avec la Bibliotheque nationale de France, offrant l'opportunite d'acceder a des ouvrages anciens et souvent rares issus des fonds patrimoniaux de la BnF.\u003cbr\u003eLes oeuvres faisant partie de cette collection ont ete numerisees par la BnF et sont presentes sur Gallica, sa bibliotheque numerique.\u003cbr\u003e\u003cbr\u003eEn entreprenant de redonner vie a ces ouvrages au travers d'une collection de livres reimprimes a la demande, nous leur donnons la possibilite de rencontrer un public elargi et participons a la transmission de connaissances et de savoirs parfois difficilement accessibles.\u003cbr\u003eNous avons cherche a concilier la reproduction fidele d'un livre ancien a partir de sa version numerisee avec le souci d'un confort de lecture optimal. Nous esperons que les ouvrages de cette nouvelle collection vous apporteront entiere satisfaction.\u003cbr\u003e\u003cbr\u003ePour plus d'informations, rendez-vous sur www.hachettebnf.fr\u003cbr\u003e","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52760046141713,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":52760047124753,"sku":"NIN9782013685993","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9782013685993.jpg?v=1763585381"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-louis-bachelier.oembed","provider":"World of Books ","version":"1.0","type":"link"}