Experiments in Quantitative Finance
by Joel Clarke Gibbons
Author Joel Clarke Gibbons offers readers a different perspective on finance and the economy as he shares Experiments in Quantitative Finance. This book offers valuable insights into economic affairs and also serves as a stepping-stone for others—a starting point for discovery.
The profession of financial engineering contemplates an especially daunting task, which is to value assets in a world where the conditions that govern the value are not known, and where, moreover, the rules by which those conditions will evolve in the future are also not known. The author focuses on not so much on the mathematical process of deriving a functional formula or model from known data but rather, on exploring the data itself and, as it were, suspending judgment on what it implies about values. Toward that end, his experiments have involved statistical studies of actual data rather than constructing mathematical structures to produce the valuations.
Experiments in Quantitative Finance not only provides usable statistical findings to the investment world, but also educates you on financial, economic and investment matters. The various experiments recorded in this book were all performed through the years beginning in 1987, and though the author no longer has available updates of data that he used when he did these studies, it does not diminish their educational value.