TY - BOOK ID - 85293728 TI - Quantum field theory for economics and finance PY - 2018 SN - 1108502423 1108399681 1108503748 PB - Cambridge : Cambridge University Press, DB - UniCat KW - Economics KW - Finance KW - Quantum field theory. KW - Relativistic quantum field theory KW - Field theory (Physics) KW - Quantum theory KW - Relativity (Physics) KW - Economics, Mathematical KW - Mathematical models. UR - https://www.unicat.be/uniCat?func=search&query=sysid:85293728 AB - An introduction to how the mathematical tools from quantum field theory can be applied to economics and finance, providing a wide range of quantum mathematical techniques for designing financial instruments. The ideas of Lagrangians, Hamiltonians, state spaces, operators and Feynman path integrals are demonstrated to be the mathematical underpinning of quantum field theory, and which are employed to formulate a comprehensive mathematical theory of asset pricing as well as of interest rates, which are validated by empirical evidence. Numerical algorithms and simulations are applied to the study of asset pricing models as well as of nonlinear interest rates. A range of economic and financial topics are shown to have quantum mechanical formulations, including options, coupon bonds, nonlinear interest rates, risky bonds and the microeconomic action functional. This is an invaluable resource for experts in quantitative finance and in mathematics who have no specialist knowledge of quantum field theory. ER -