Quantum Economics and Finance An Applied Mathematics Introduction 2nd Edition by David Orrell ISBN 1916081630 9781916081635

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ISBN 10: 1916081630
ISBN 13: 9781916081635
Author: David Orrell

“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.

Quantum Economics and Finance An Applied Mathematics Introduction 2nd Edition Table of contents:

Chapter 1: Foundations of Quantum Economics

• 1.1 Overview of Quantum Theories
• 1.2 Classical vs. Quantum Economics
• 1.3 The Role of Uncertainty in Economic Systems
• 1.4 Key Concepts in Quantum Mechanics
• 1.5 The Rise of Quantum Finance

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Chapter 2: Mathematical Tools for Quantum Economics

• 2.1 Linear Algebra and Hilbert Spaces
• 2.2 Probability Theory and Wave Functions
• 2.3 Operators and Observables
• 2.4 Quantum Statistics and Entropy
• 2.5 Quantum Computation Basics for Economics

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Chapter 3: The Quantum Economy: A New Paradigm

• 3.1 Quantum Models of Markets and Agents
• 3.2 Quantum Equilibrium and Market Dynamics
• 3.3 Non-locality and Global Market Interactions
• 3.4 Emergence of Quantum Behavioral Economics
• 3.5 Applications of Quantum Theories in Finance

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Chapter 4: Quantum Finance: Principles and Practices

• 4.1 Overview of Financial Markets
• 4.2 Quantum Pricing Models for Assets
• 4.3 Quantum Option Pricing and Risk Management
• 4.4 Portfolio Theory in the Quantum Era
• 4.5 Quantum Arbitrage and Financial Strategies

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Chapter 5: Quantum Probability and Risk Analysis

• 5.1 Uncertainty Principle in Financial Models
• 5.2 Quantum Probabilities and Stochastic Processes
• 5.3 Quantum Risk Assessment Methods
• 5.4 Modeling Financial Crises with Quantum Tools
• 5.5 Case Study: Quantum Risk in Global Markets

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Chapter 6: Quantum Computation for Economic Simulations

• 6.1 Introduction to Quantum Computers
• 6.2 Quantum Algorithms for Economic Modeling
• 6.3 Simulating Economic Systems with Quantum Computers
• 6.4 Quantum Machine Learning for Financial Predictions
• 6.5 Challenges in Quantum Computing Applications

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Chapter 7: Economic Forecasting and Quantum Models

• 7.1 Predictive Models in Classical Economics
• 7.2 Quantum Forecasting: Principles and Techniques
• 7.3 Time Series Analysis Using Quantum Methods
• 7.4 Quantum Approaches to Macroeconomic Stability
• 7.5 Real-world Applications and Case Studies

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Chapter 8: Ethics and Philosophical Implications of Quantum Economics

• 8.1 Ethical Considerations in Quantum Financial Systems
• 8.2 Philosophical Questions in Economic Modeling
• 8.3 The Role of Human Behavior in Quantum Models
• 8.4 Quantum Economics and Social Responsibility
• 8.5 The Future of Quantum Economic Systems

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Chapter 9: Emerging Trends and Future Directions

• 9.1 The Evolution of Quantum Finance and Economics
• 9.2 Quantum Blockchain and Cryptocurrencies
• 9.3 Quantum Computing’s Impact on Global Markets
• 9.4 The Convergence of Quantum Economics and AI
• 9.5 Predicting the Future: Opportunities and Challenges

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