Mark H. A.Davis
Mathematical Finance: A Very Short Introduction
Mathematical Finance: A Very Short Introduction
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The finance industry has grown significantly in recent years, and many science and engineering graduates have joined as quantitative analysts. At the same time, scientific endeavour has led to the development of arbitrage theory, which has revolutionized the practice of trading. This Very Short Introduction provides an overview of arbitrage theory and its applications to interest rates, credit trading, fund management, and risk management.
Format: Paperback / softback
Length: 160 pages
Publication date: 24 January 2019
Publisher: Oxford University Press
The finance industry has experienced significant growth in recent years, becoming an integral part of modern economies. Many science and engineering graduates have joined the industry as quantitative analysts, bringing with them mathematical and computational skills essential for solving complex problems related to asset valuation and risk management. Alongside this development, there has been a parallel pursuit of scientific inquiry. Between 1965 and 1995, insightful ideas in economics about asset valuation were transformed into a mathematical theory of arbitrage, resulting in the famous 1973 Black-Scholes formula. This breakthrough was followed by extensive investigations using modern analysis and probability techniques. The growth of the finance industry closely followed these advancements. However, new challenges have emerged in the aftermath of the 2008 financial crisis, and there is an opportunity to leverage new technology to enhance trading practices. This Very Short Introduction aims to introduce readers with no prior background in arbitrage theory to its principles and how it operates. Author Mark Davis provides a comprehensive explanation of pricing theory, its applications to interest rates, credit trading, fund management, and risk management. He concludes by surveying the most pressing issues in mathematical finance today. The Very Short Introductions series from Oxford University Press offers a wide range of titles in nearly every subject area. These compact books are designed to provide concise and accessible insights into new subjects, making them ideal for individuals seeking to gain a quick understanding of a particular topic. With expert authors combining facts, analysis, perspective, innovative ideas, and enthusiasm, these books make challenging topics highly readable and engaging.
Weight: 144g
Dimension: 170 x 113 x 9 (mm)
ISBN-13: 9780198787945
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