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9788763001854

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This book contains a blend of papers on such diverse topics as dynamical systems, quantum physics, economics, and finance. The unifying link is stochastic analysis (including white noise analysis), and the result is a very readable volume, which in all probability will serve as a source of inspiration for a number of young (and old) researchers. Tomas Bjork,Professor of Mathematical Finance,Stockholm School of Economics, Sweden Economic growth is a complex process which has been analyzed for centuries from a deterministic point of view, although we know that random processes are at work behind the observed fluctuations of the economy. This book is a most welcome attempt at bridging the gap between traditional growth theory and stochastic analysis. It brings together highly innovative contributions to the subject and will no doubt be of tremendous value to graduate students and researchers alike. Olivier de La Grandville, Professor of Economics,University of Geneva, Switzerland This book contains an important set of papers analyzing stochastic dynamic systems across a broad spectrum of economics and finance. The contributors are established scholars in their respective areas, and the resulting volume is an authoritative collection of papers that will provide an important resource for researchers working in this vital area. Stephen J. Turnovsky, Castor Professor of Economics,University of Washington, Seattle, USA The volume provides a very rigorous, yet very clear treatment of several important issues in economics, insurance, and finance. Uncertainty and stochastic processes are the framework of all the studies in this book. For me as a finance researcher, I am sure that I will use, in particular, chapters 1, 9, and 10. Researchers from other areas will no doubt find other chapters very useful. To sum up, the topics will be helpful for researchers from a variety of disciplines. Haim Levy, Professor of Finance,Hebrew University, Jerusalem, Israel

"""This book contains a blend of papers on such diverse topics as dynamical systems, quantum physics, economics, and finance. The unifying link is stochastic analysis (including white noise analysis), and the result is a very readable volume, which in all probability will serve as a source of inspiration for a number of young (and old) researchers.""Tomas Bjork,Professor of Mathematical Finance,Stockholm School of Economics, Sweden""Economic growth is a complex process which has been analyzed for centuries from a deterministic point of view, although we know that random processes are at work behind the observed fluctuations of the economy. This book is a most welcome attempt at bridging the gap between traditional growth theory and stochastic analysis. It brings together highly innovative contributions to the subject and will no doubt be of tremendous value to graduate students and researchers alike.""Olivier de La Grandville, Professor of Economics,University of Geneva, Switzerland""This book contains an important set of papers analyzing stochastic dynamic systems across a broad spectrum of economics and finance. The contributors are established scholars in their respective areas, and the resulting volume is an authoritative collection of papers that will provide an important resource for researchers working in this vital area.""Stephen J. Turnovsky, Castor Professor of Economics,University of Washington, Seattle, USA""The volume provides a very rigorous, yet very clear treatment of several important issues in economics, insurance, and finance. Uncertainty and stochastic processes are the framework of all the studies in this book. For me as a finance researcher, I am sure that I will use, in particular, chapters 1, 9, and 10. Researchers from other areas will no doubt find other chapters very useful. To sum up, the topics will be helpful for researchers from a variety of disciplines.""Haim Levy, Professor of Finance,Hebrew University, Jerusalem, Israel"

""This book contains a blend of papers on such diverse topics as dynamical systems, quantum physics, economics, and finance. The unifying link is stochastic analysis (including white noise analysis), and the result is a very readable volume, which in all probability will serve as a source of inspiration for a number of young (and old) researchers.""Tomas Bjork,Professor of Mathematical Finance,Stockholm School of Economics, Sweden""Economic growth is a complex process which has been analyzed for centuries from a deterministic point of view, although we know that random processes are at work behind the observed fluctuations of the economy. This book is a most welcome attempt at bridging the gap between traditional growth theory and stochastic analysis. It brings together highly innovative contributions to the subject and will no doubt be of tremendous value to graduate students and researchers alike.""Olivier de La Grandville, Professor of Economics,University of Geneva, Switzerland""This book contains an important set of papers analyzing stochastic dynamic systems across a broad spectrum of economics and finance. The contributors are established scholars in their respective areas, and the resulting volume is an authoritative collection of papers that will provide an important resource for researchers working in this vital area.""Stephen J. Turnovsky, Castor Professor of Economics,University of Washington, Seattle, USA""The volume provides a very rigorous, yet very clear treatment of several important issues in economics, insurance, and finance. Uncertainty and stochastic processes are the framework of all the studies in this book. For me as a finance researcher, I am sure that I will use, in particular, chapters 1, 9, and 10. Researchers from other areas will no doubt find other chapters very useful. To sum up, the topics will be helpful for researchers from a variety of disciplines.""Haim Levy, Professor of Finance,Hebrew University, Jerusalem, Israel

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Bjarne S. Jensen, Professor of Applied Microeconomics, University of Southern DenmarkTapio Palokangas, Professor of International Economics, University of Helsinki

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