Engine, Not a Camera How Financial Models Shape Markets

Name: Engine, Not a Camera How Financial Models Shape Markets
Price: 16.94 USD
Availability: InStock
ISBN: 9780262633673

ISBN-10: 0262633671

ISBN-13: 9780262633673

Edition: 2006

Authors: Donald MacKenzie

List price: $35.00

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Description:

Winner, 2007 British International Studies Association's (BISA) International Political Economy Group (IPEG) Book Prize. and Winner of the 2005 John Desmond Bernal Prize awarded jointly by the Society for Social Studies of Science (4S) and the Institute for Scientific Information. In An Engine, Not a Camera, Donald MacKenzie argues that the emergence of modern economic theories of finance affected financial markets in fundamental ways. These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes. Paraphrasing Milton Friedman, MacKenzie says that economic models are an engine of inquiry…

Book details

List price: $35.00
Copyright year: 2006
Publisher: MIT Press
Publication date: 8/29/2008
Binding: Paperback
Pages: 392
Size: 6.02" wide x 9.02" long x 0.94" tall
Weight: 1.144
Language: English

Donald W. MacKenzie grew up on Ulva and wrote his memoirs in 2000.



Acknowledgments



Performing Theory?



Transforming Finance



Theory and Practice



Tests, Anomalies, and Monsters



Pricing Options



Pits, Bodies, and Theorems



The Fall



Arbitrage



Models and Markets



An Example of Modigliani and Miller's "Arbitrage Proof" of the Irrelevance of Capital Structure to Total Market Value



Levy Distribution



Sprenkle's and Kassouf's Equations for Warrant Prices



The Black-Scholes Equation for a European Option on a Non-Dividend-Bearing Stock



Pricing Options in a Binomial World



Repo, Haircuts, and Reverse Repo



A Typical Swap-Spread Arbitrage Trade



List of Interviewees


Glossary


Notes


Sources of Unpublished Documents


References


Series List


Index