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New edition available - click here to go to the details of the new book.
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- Product code: 18993
- ISBN: 1861977654,
ISBN13: 9781861977656,
288 pages, hardback
Published by Profile Books, 1st edition, 2004
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Description of The (Mis)Behaviour of Markets
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From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work.
Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also beautiful.
In Mandelbrot's fractal models, the complex gyrations of IBM’s stock price, the FTSE 100, cotton trading and exchange rates can be reduced to straightforward formulae that yield a much more accurate description of the risks involved.
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