Quantum Economics and Finance: An Applied Mathematics Introduction - Softcover

Orrell, David

Softcover

ISBN 10: 1916081630 ISBN 13: 9781916081635

Publisher: Panda Ohana Publishing, 2022

Synopsis

“If you are looking to learn more about quantum theory applied to finance, we highly recommend
reading David Orrell’s book: Quantum Economics and Finance: An Applied Mathematics
Introduction.” Quantum News

The word “quantum” is from the Latin for “how much” and in this book mathematician David Orrell
shows how it applies to the world of economic transactions. Written in clear and accessible
language, the book covers the essential mathematics behind topics such as quantum
cognition, option pricing, and quantum game theory, and delves into the nuts and bolts of
quantum mechanics, the principles of quantum economic modelling, and the basics of
quantum computation. On the way the reader will learn how quantum interference can be
used to model cognitive dissonance, how a quantum walk goes further than a random walk,
why market oscillations are real and imaginary at the same time, and how financial entanglement
explains the rate of mortgage default. It is aimed at anyone who wants to understand the
quantum ideas working their way into economics and finance, without getting drowned in
wave equations.

As interest in quantum computing grows, many companies from established banks to startups
are looking at ways to perform financial simulations using quantum algorithms. But what if we
should be using quantum models anyway – because the monetary system has quantum
properties of its own, and because they work?

The field is developing rapidly, and this third edition contains many updates including new
material on using quantum models to simulate the stock market.

David Orrell is an applied mathematician with extensive experience in mathematical modelling,
and the author of a dozen books on science and economics. The Economist calls him one of
the “leading proponents” of quantum finance, and notes that “One way or another,
finance will catch up.” This book will give the reader a head start.

About this title

About the Author

David Orrell studied mathematics at the University of Alberta and obtained his D.Phil. from Oxford University. His books, published in 20 countries, include Apollo's Arrow: The Science of Prediction and the Future of Everything (HarperCollins 2007), Truth or Beauty: Science and the Quest for Order (Yale University Press 2012), The Evolution of Money (with Roman Chlupatý) (Columbia University Press 2016), The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets (with Paul Wilmott) (Wiley 2017), and Quantum Economics: The New Science of Money (Icon 2018). He has also published scientific articles on topics including applied mathematics, superconducting magnet design, weather prediction, computational biology, pharmacology, forecasting and economics.

Edition details

• Publisher: Panda Ohana Publishing
• Publication date: 2022
• Language: English
• ISBN 10: 1916081630
• ISBN 13: 9781916081635
• Binding: Paperback
• Edition number: 3
• Number of pages: 248