The font threw me. IIRC Bachelier was forgotten until Samuelson mentioned his work.It's the translation from Cootner's 'Random Character of Stock Market Prices'.
Saying `original publication date' would have been too much of a clue ...
The font threw me. IIRC Bachelier was forgotten until Samuelson mentioned his work.It's the translation from Cootner's 'Random Character of Stock Market Prices'.
Saying `original publication date' would have been too much of a clue ...
Or at least Commedia dell'arte?The farce is strong in this thread.
Or at least Commedia dell'arte?The farce is strong in this thread.
An extensive literature review could be enlightening.
Here's a small detail on the path from Bachelier to Samuelson:
"Although Bachelor's work on random walks predated Einstein's celebrated study of Brownian motion by five years, the pioneering nature of his work was recognized only after several decades, first by Andrey Kolmogorov who pointed out his work to Paul Levy, then by Leonard Jimmie Savage who translated Bachelier's thesis to English and brought the work of Bachelier to the attention of Paul Samuelson."
The original B. thesis - http://archive.numdam.org/article/ASENS ... __21_0.pdf
Option traders who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct physics student.
How to compute [$]\sqrt{T}[$] with two decimal places? Using only pencil and paper.And slide rules. I liked slide rules. But I digress.
It's fairly run-of-the-mill calculus ... MFE students do it.Not sure - there were many intermediate steps missing, and the proposition to be proved was not clear.BTW did I get the correct answer with my PDE solution?
How to compute [$]\sqrt{T}[$] with two decimal places? Using only pencil and paper.And slide rules. I liked slide rules. But I digress.
Alan has a solution for you when [$]T = e[$].How to compute [$]\sqrt{T}[$] with two decimal places? Using only pencil and paper.And slide rules. I liked slide rules. But I digress.
If [$] T=e^{10} [$] then I know a source!