The Special Role of Finance in the Production of Knowledge

  • Nicolas Bouleau


The reader will surely be relieved that we have restricted ourselves to a qualitative discourse in order to understand the stakes of contemporary finance, and to be able to tackle its involvement with economy and politics. This needed us to make references to to pics from advanced mathematics, such as Brownian motion, Itô calculus, integration , martingales, and so on. This was essential to see clearly and to have a better understanding of the phenomena of risk, the questions of stability and instability, the various forms of speculation, and to understand the epistemological rupture of exact hedging on which the new practices rest.


Brownian Motion Financial Market Spot Price Quality Ladder Market Room 


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Copyright information

© Springer-Verlag London 1998

Authors and Affiliations

  • Nicolas Bouleau
    • 1
  1. 1.École des PontsParisFrance

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