The dynamics of stock exchange based on the formalism of weak continuous quantum measurement
Journal of Physics 238 (012035):1-9 (2010)
| Abstract | The problem of measurement in economic models and the possibility of their quantum-mechanical description are considered. It is revealed that the apparent paradox of such a description is associated with a priori requirement of conformity of the model to all the alternatives of free choice of the observer. The measurement of the state of a trader on a stock exchange is formally defined as his responses to the proposals of sale at a fixed price. It is shown that an analogue of Bell's inequalities for this measurement model is violated at the most general assumptions related to the strategy of the trader and requires a quantummechanical description of the dynamics of his condition. In the framework of the theory of weak continuous quantum measurements, the equation of stock price dynamics and the quantum-mechanical generalization of the F. Black and M. Scholes model for pricing options are obtained. The fundamental distinctions between the obtained model and the classical one are discussed. | |||||||||
| Keywords | quantum measurements measurement in economic models | |||||||||
| Categories | ||||||||||
| Options |
|
|||||||||
Download options| PhilPapers Archive |
  |
| External links | This entry has no external links. Add one. |
| Through your library | Configure |
Similar books and articlesS. I. Melnyk & I. G. Tuluzov (2008). Quantum Analog of the Black- Scholes Formula(Market of Financial Derivatives as a Continuous Weak Measurement). Electronic Journal of Theoretical Physics (EJTP) 5 (18):95–104.
Hasok Chang (1997). On the Applicability of the Quantum Measurement Formalism. Erkenntnis 46 (2):143-163.
Sergiy Melnyk, ALGEBRA OF FUNDAMENTAL MEASUREMENTS AS A BASIS OF DYNAMICS OF ECONOMIC SYSTEMS. arXiv.
I. I. I. Durand (1960). On the Theory of Measurement in Quantum Mechanical Systems. Philosophy of Science 27 (2):115-133.
Zhengjun Xi & Yongming Li (2013). Quantum and Classical Correlations in Quantum Measurement. Foundations of Physics 43 (3):285-293.
Guido Bacciagaluppi (2013). Insolubility Theorems and EPR Argument. European Journal for Philosophy of Science 3 (1):87-100.
M. Bitbol (1988). The Concept of Measurement and Time Symmetry in Quantum Mechanics. Philosophy of Science 55 (3):349-375.
Nicholas Maxwell (1972). A New Look at the Quantum Mechanical Problem of Measurement. American Journal of Physics 40:1431-5..
Mauricio Suárez (2004). Quantum Selections, Propensities and the Problem of Measurement. British Journal for the Philosophy of Science 55 (2):219 - 255.
James L. Park (1968). Quantum Theoretical Concepts of Measurement: Part II. Philosophy of Science 35 (4):389-411.
C. Lehner (1997). What It Feels Like to Be in a Superposition, and Why: Consciousness and the Interpretation of Everett's Quantum Mechanics. Synthese 110 (2):191-216.
Michael Dickson (2007). Is Measurement a Black Box? On the Importance of Understanding Measurement Even in Quantum Information and Computation. Philosophy of Science 74 (5):1019–1032.
Analytics
Monthly downloads
Sorry, there are not enough data points to plot this chart.
|
Added to index2011-12-31Total downloads2 ( #232,316 of 549,006 )Recent downloads (6 months)1 ( #63,261 of 549,006 )How can I increase my downloads? |
My notes
Discussion
