Stochastic Processes and the History of Science: From Planck to Einstein
Wednesday, September 3rd, 2008How are the notions of randomness, i.e., stochastic processes, linked to theories in physics and what have they got to do with options pricing in economics?
How did the prevailing world view change from 1900 to 1905?
What connects the mathematicians Bachelier, Markov, Kolmogorov, Ito to the physicists Langevin, Fokker, Planck, Einstein and the economists Black, Scholes, Merton?
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