Quantum Economics and Finance: The Quantum Option
Speaker: David Orrell
CQF Institute is proud to bring you a free online talk with David Orrell on Quantum Economics and Finance
This event can earn you up to 2 CPD credits.
Abstract
Quantum economics and finance uses quantum mathematics to model phenomena including cognition, financial transactions, and the dynamics of money and credit. This talk applies the theory to the problem of pricing a financial option. Instead of using methods based on a random walk, we draw on the theory of quantum cognition to use a quantum walk, which shows very different behaviour. The results shed light on a number of empirical phenomena that elude classical models. The algorithm has the additional advantage that it is native to a quantum computer. The talk is based on material from the book Quantum Economics and Finance: An Applied Mathematics Introduction
Speaker's 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.
