Authors:
- Systematically explains the ethical underpinnings of the activities of financial markets
- Blends history, ethics, economics and mathematics
- Discusses the ethics of financial economics
- Presents a pragmatic theory that can be immediately applied in practice
Buy it now
Buying options
Tax calculation will be finalised at checkout
Other ways to access
This is a preview of subscription content, log in via an institution to check for access.
Table of contents (13 chapters)
-
Front Matter
-
Back Matter
About this book
This book presents an ethical theory for financial transactions that underpins the stability of modern economies. It combines elements from history, ethics, economics and mathematics to show how these combined can be used to develop a pragmatic theory of financial markets.
Written in three sections; section one examines the co-evolution of finance and mathematics in an ethical context by focusing on three periods: pre-Socratic Greece, Western Europe in the thirteenth century and North-western Europe in the seventeenth century to demonstrate how the historical development of markets and finance were critical in the development of European ideas of science and democracy. Section two interprets the evidence presented in section one to provide examples of the norms reciprocity, sincerity and charity and introduce the pragmatic theory. Section three uses the pragmatic theory to interpret recent financial crises, address emergent phenomena and relate the theory to alternative contemporary theories of markets.
Presenting a unique synthesis of mathematical and behavioural approaches to finance this book provides explicit ethical guidance that will be of interest to academics and practitioners alike.
Authors and Affiliations
-
Department of Actuarial Mathematics and Statistics, Heriot-Watt University, Edinburgh, United Kingdom
Timothy Johnson
About the author
Dr Timothy C Johnson is an Assistant Professor in the School of Mathematical & Computer Sciences; Actuarial Mathematics and Statistics at Heriot-Watt University, Scotland. He has a PhD in financial mathematics from King's College London, a BSc in physics from Imperial College, London, and a MSc in financial mathematics from King's College London. Prior to studying for his BSc he worked in the energy industry for 16 years. Timothy joined Heriot-Watt in September 2006 as the UK Research Council's Academic Fellow in Financial Mathematics where he is responsible for trying to explain the science of financial mathematics to the general public. His research interests are in the field of optimal decision making under uncertainty, focusing on optimal stochastic control.
div>Bibliographic Information
Book Title: Ethics in Quantitative Finance
Book Subtitle: A Pragmatic Financial Market Theory
Authors: Timothy Johnson
DOI: https://doi.org/10.1007/978-3-319-61039-9
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2017
Hardcover ISBN: 978-3-319-61038-2Published: 23 November 2017
Softcover ISBN: 978-3-319-86988-9Published: 30 August 2018
eBook ISBN: 978-3-319-61039-9Published: 28 October 2017
Edition Number: 1
Number of Pages: VIII, 339
Topics: Finance, general, Quantitative Finance, Business Ethics