Abstract
In the preceding chapters, we described the price fluctuations of financial assets in statistical terms. We did not ask questions about their origin, and how they are related to individual investment decisions. In the language of physics, our approach was macroscopic and phenomenological. We considered macrovariables (prices, returns, volatilities) and checked the internal consistency of the phenomena observed. In this chapter, we wish to discuss how these macroscopic observables are possibly related to the microscopic structure and rules governing capital markets. We inquire about the relation of microscopic function and macroscopic expression.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2005 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
(2005). Microscopic Market Models. In: Balian, R., Beiglböck, W., Grosse, H., Thirring, W. (eds) The Statistical Mechanics of Financial Markets. Texts and Monographs in Physics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-26289-X_8
Download citation
DOI: https://doi.org/10.1007/3-540-26289-X_8
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-26285-5
Online ISBN: 978-3-540-26289-3
eBook Packages: Mathematics and StatisticsMathematics and Statistics (R0)