The medium of contingency : an inverse view of the market /: an inverse view of the market. (2015)

• Record Type: Book
• Further Information: Note: Elie Ayache.
• Other Names: Ayache, Elie
• Contents: Preface; ; Introduction; ; 0.1 Derivative Valuation Theory vs. Derivative Pricing Technology; 0.2 Implied Volatility vs. Real Volatility; 0.3 Formal Reality vs. Physical Reality; ; I The Matter; ; 1 The End of Probability; 1.1 The Void of Possibilities; 1.2 A New Matter; 1.3 The Infinity of Markets; 1.4 The End of Statistics; ; 2 The Vision Ahead; 2.1 Regime-Switching Model; 2.2 Recalibration; 2.3 Is Probability Necessary?; 2.4 Price and Probability; 2.5 A New Metaphysics; 2.6 Absolute Contingency; 2.7 The Market as an Opportunity for Speculative Thought; 2.8 The Market as the Conversion of the Image of Thought; 2.9 Ascending to the Metalogical Level; ; 3 Introducing the Market; 3.1 The Unexchangeable Place of Exchange; 3.1.1 The market as a continual event; 3.1.2 The market as quantitative history; 3.1.3 The intensive nontemporal price process; 3.1.4 The continuity of the discontinuity; 3.1.5 The matter beyond antifragility; 3.2 The Medium of Contingency; 3.2.1 The technology of the future; 3.2.2 The book behind the market; 3.3 Pricing vs. Valuation; 3.3.1 The surface of the market; 3.3.2 The smile problem; 3.3.3 The absolute local; 3.3.4 In the middle of the event; ; 4 The Thought Behind; 4.1 Two Sides of Writing; 4.2 Genesis of Price vs. Generation of Number; 4.3 The Market as Geometry; 4.4 State vs. Mark; 4.5 Probability as an Internal Episode; 4.6 The Alternative Axiomatic System of Shafer and Vovk; 4.7 Extensive Difference vs. Intensive Difference; ; II The Matter in Brownian Motion; ; 5 From Throwing the Dice to Grasping Brownian Motion; 5.1 The Meaning of Probability; 5.1.1 The Law of Large Numbers; 5.1.2 Intuition; 5.1.3 Matter; 5.1.4 Reality; 5.1.5 Tense; 5.2 Changing the Meaning of Matter; 5.2.1 Money; 5.2.2 Time is not money; 5.2.3 Money is place; 5.3 Changing the Meaning of Reality; 5.3.1 Ex-ante vs. ex-post; 5.3.2 Brownian motion; ; 6 From the Marvel of Brownian Motion to the Reality of the Market; 6.1 The Technology of the Market; 6.2 The Reality of the Market; 6.3 The Market as an Inverted Order of Thought; ; III The Matter in Contingency; ; 7 The Paper and the Tree; 7.1 The Market and Time; 7.1.1 Contingency, writing and exchanging; 7.1.2 Price and time; 7.1.3 Price and the event; 7.1.4 Price and the trace; 7.2 From the Mark to the Whole Market; 7.2.1 Contingent payoff vs. contingent claim (first take); 7.2.2 The invention of writing (first take); 7.2.3 The exchange and the abyss; ; 8 Archaeology of the Multiple; 8.1 To Be vs. Can Be; 8.1.1 Identification and transition; 8.1.2 The danger of abstraction and the suspension of possibility; 8.1.3 0 and 1; 8.1.4 The real future; 8.2 Chrono-logic; 8.2.1 Probability as an integral; 8.2.2 Chronology as a simulation of chrono-logic; 8.3 Accounting for the Event; 8.3.1 Money and the other face of the event; 8.3.2 The accident of time and the necessity of work; 8.3.3 An event that is not but that remains; 8.3.4 Writing the event; ; 9 Archaeology of the Exchange; 9.1 All of the Market!; 9.1.1 Impossible exchange, necessary exchange; 9.1.2 The inverse view; 9.2 Statistics as a Proto-market; 9.2.1 Abstraction and the precision of the present state; 9.2.2 The immanence of statistics and the immanence of the paper; 9.2.3 The matter in statistics; 9.3 The Matter in the Exchange; 9.3.1 The non-individual singular; 9.3.2 Single-case statistics; 9.3.3 Contingency of the strike; ; 10 Matter and Geometry; 10.1 The Singularity of Writing; 10.2 The Singularity of the Exchange; ; IV The Market of Contingent Claims (or the Matter in Black-; Scholes-Merton); ; 11 Towards a Contemporary Theory of the Market; 11.1 The Stochastic Narrative of the Market; 11.1.1 Definite states; 11.1.2 Derivatives prices as states; 11.1.3 Variations on lottery value and random price; 11.1.4 The curse of the derivative value; 11.2 The Trading Narrative of the Market; 11.2.1 Can the derivative trade independently?; ; 12 Incomplete Markets; 12.1 Complete vs. Incomplete Markets; 12.2 Martingale Measure of the Market; 12.3 Equivocation; 12.4 Incomplete Market when the market Is All There Is; ; 13 The Central Knot; 13.1 Contingent Payoff vs. Contingent Claim; 13.2 Probabilistic Exit; 13.3 The Alternative Exit; 13.3.1 Differentiating the form; 13.4 The Invention of Writing; 13.5 Genesis; 13.5.1 That they don't exist; ; 14 The Hard Problem; 14.1 The Ultimate Probability Spot; 14.2 The Presentation of the Contingent Payoffs; 14.3 The Lure of Theory; 14.4 The Semantic Theory of the Market; ; 15 The Book of the Market; 15.1 Formalism and Meta-formalism; 15.1.1 The instant of the formalism and the instant of the market; 15.1.2 The infinity of the option price and the infinity of matter; 15.1.3 Formal deduction of matter; 15.1.4 A new book for a new reality; 15.2 The Book of Genesis; 15.2.1 Only the book can write history; 15.2.2 One book instead of two theories; 15.2.3 Only the book can bind the void; 15.2.4 Only the book can settle the succession; 15.2.5 Contemporary art; 15.2.6 An ontology made of paper; 15.3 The Trading Force; 15.4 Coda; ; 16 Denouement: The theory after the Two Narratives; ; Conclusion; 17 Appendix 1: Regime-Switching Model 669; 17.1 A Meta-contextual Pricing Tool; 17.2 Recalibration; ; 18 Append
• Publisher Details: Basingstoke : Palgrave Macmillan
• Publication Date: 2015
• Extent: 1 online resource (432 pages), (3 illustrations)
• Subjects: 332.64/57; General; Derivative securities -- Prices; Contingencies in finance; BUSINESS & ECONOMICS / Finance; MATHEMATICS / General; PHILOSOPHY / General; Mathematics; Finance
• Languages: English
• ISBNs: 9781137286574; 1137286571
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.