(Ebook) Quantum Economics and Finance: An Applied Mathematics Introduction by David Orrell ISBN 9781916081628, 1916081622

(Ebook) Quantum Economics and Finance: An Applied Mathematics Introduction by David Orrell ISBN 9781916081628, 1916081622

“This book gives a technical introduction to some of the mathematics used in quantum economics and finance. As Marshall knew, economics is not the same as a mathematical proof, and the key ideas of quantum economics, such as its approach to the questions of money and value, do not rely on equations. However the quantum formalism is mathematical, so to fully exploit its ideas some mathematics is useful (even if it is burned afterwards). The aim here is to sketch out the way in which the economy can be represented mathematically using the quantum formalism, show the advantages over the classical approach, and clarify what it means to say that the economy can be treated as a quantum system in its own right.The quantum approach to economics and finance is inspired by the empirical fact that the monetary system shows quantum properties such as discreteness, indeterminacy, interference, and entanglement. A simulation should therefore be quantum as well, in the sense that it reflects these properties (even if it doesn’t directly use a quantum formalism). The point then is not that the quantum methodology will be the best technique to model every aspect of the economy, but rather that the economy has quantum properties which may need to be taken into account (explicitly or implicitly) depending on the context.”