The Medium of Contingency

The Medium of Contingency➸ [Reading] ➺ The Medium of Contingency By Elie Ayache ➭ – Oaklandjobs.co.uk In The Medium of Contingency Elie Ayache builds upon his ground breaking book The Blank Swan in exploring the intersection of philosophy and finance introducing new notions of price and market Inverti In The Medium of Contingency Elie Ayache builds upon his ground breaking book The Blank Swan in exploring the intersection of philosophy and finance introducing new notions of price and market Inverting the received view he now sees a creation of matter in both the market and its metaphysics rather than pure speculation Once recognized as the proper medium of contingency and disassociated from the probabilistic and statistical tools traditionally used to model it the market can be thought as 'real' in a new sense of reality corresponding to the new The Medium ePUB ✓ sense of matter To bring this new and original perspective The Medium of Contingency builds on probability theory as first formalized by von Mises and Kolmogorov and later revisited by Shafer and Vovk It utilises the author's extensive experience in derivatives pricing technology and software as well as his work in the philosophy of contingency and contingent claims to propose a new philosophical interpretation of Brownian motion and of the Black Scholes Merton formula Then it completes the overturning of the traditional view of the market by arguing that there should be no difference ultimately between an underlying asset and the derivative written on it This book does not aim to change the market but the way we must think of it It is the author's conviction that there can be no philosophy of the market and conseuently no thinking of it without a philosophy of contingent claims and of derivative pricing The book provides the missing piece which the philosophy of probability cannot provide alone Its scope however extends beyond the strict critiue of financial mathematics as it also and perhaps most importantly delivers the author's definitive treatment of the philosophically prominent and recently much discussed notion of contingency. Ayache takes too long to say what he wants to say He has better mastery over his ideas when compared to The Blank Swan but overall this book is still longer than it needs to be He doesn't seem to particularly need Deleuze so much this time around But he still focuses on the secondary market as way to talk about the emergence of a new logic when in fact this can be extracted to make a generic statement about new fields of sensemaking in general which is why I love Ayache's work I am not sure if he realizes this aspect of his thought processes; that it can be used as a model to type new types of domains as in some sense that is how new fields are created The same process creates similar forms which then meet as the same mapped typeStill the only complaint is that Ayache took too long to state what he needed to state attempting to approach the topic from a variety of manners because he wasn't until the end able to find the approach angle of expression

The Medium of Contingency PDF/EPUB ☆ The Medium
  • Hardcover
  • 432 pages
  • The Medium of Contingency
  • Elie Ayache
  • 14 October 2016
  • 9781137286543