The Medium of Contingency 978-1-137-28654-3 An Inverse View of the Market
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, ra...
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| Format: | eBook |
| Language: | Inglés |
| Published: |
London :
Palgrave Macmillan UK
2015.
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| Edition: | 1st ed. 2015. |
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| See on Biblioteca Universitat Ramon Llull: | https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009463622606719 |
Table of Contents:
- Machine generated contents note:
- 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 Archaelogy 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.
