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Quantum Economics and Finance: The Quantum Coin Trick

Speaker: David Orrell

CQF Institute is proud to bring you a free talk with David Orrell on Quantum Economics and Finance: The Quantum Coin Trick

Abstract

Quantum economics and finance uses quantum mathematics to model phenomena including cognition, financial transactions, and the dynamics of money and credit. This talk takes a particular route into the subject, through a discussion of the quantum coin. Unlike a classical coin toss, which can be either heads or tails, a quantum coin can be – like Schrödinger’s cat – in a superposition of states. This gives it intriguing properties which can be used to simulate everything from the prisoner’s dilemma, to the credit relationship, to the pricing of options. The talk is based on material from the book Quantum Economics and Finance: An Applied Mathematics Introduction

Speaker Bio

David Orrell studied mathematics at the University of Alberta and obtained his D.Phil. from Oxford University. His books, published in 20 countries, include Apollo’s Arrow: The Science of Prediction and the Future of Everything (HarperCollins 2007), Truth or Beauty: Science and the Quest for Order (Yale University Press 2012), The Evolution of Money (with Roman Chlupatý) (Columbia University Press 2016), The Money Formula: Dodgy Finance, Pseudo Science, and How Mathematicians Took Over the Markets (with Paul Wilmott) (Wiley 2017), and Quantum Economics: The New Science of Money (Icon 2018). He has also published scientific articles on topics including applied mathematics, superconducting magnet design, weather prediction, computational biology, pharmacology, forecasting and economics.

He wrote this book in spring 2020 while self-isolating in Toronto with his family, where his hobbies included amateur epidemiology and social distancing.