Pricing the Future by George G. Szpiro
Finance, Physics, and the 300-year Journey to the Black-Scholes Equation

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Options have been traded for hundreds of years, but investment decisions were based on gut feelings until the Nobel Prize–winning discovery of the Black-Scholes options pricing model in 1973 ushered in the era of the “quants.” Wall Street would never be the same.

In Pricing the Future, financial economist George G. Szpiro tells the fascinating stories of the pioneers of mathematical finance who conducted the search for the elusive options pricing formula. From the broker’s assistant who published the first mathematical explanation of financial markets to Albert Einstein and other scientists who looked for a way to explain the movement of atoms and molecules, Pricing the Future retraces the historical and intellectual developments that ultimately led to the widespread use of mathematical models to drive investment strategies on Wall Street.


About George G. Szpiro

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George G. Szpiro is a mathematician, financial economist, and journalist. He is the Israel correspondent of the Swiss daily Neue Zurcher Zeitung and has published in Science, Nature, and the Jerusalem Report. He is the author of Kepler's Conjecture, The Secret Life of Numbers, Poincaré's Prize, and Numbers Rule. He lives in Switzerland.
Published November 29, 2011 by Basic Books. 322 pages
Genres: Business & Economics, Education & Reference, Science & Math, History. Non-fiction

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The author devotes most of the text to tracing “the historical and intellectual developments that led to the options pricing formula,” beginning more than 300 years ago with the tulip bubble, when frenzied speculators drove the price higher and higher until the bubble burst and buyers defaulted o...

Sep 18 2011 | Read Full Review of Pricing the Future: Finance, ...

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