From the Marvel of Brownian Motion to the Reality of the Market

  • Elie Ayache


The radically-emergent event escapes possibility, or rather, it precedes it.1 It is im-possible, not in the sense that it will never happen, but in the sense that its ‘possibility’ is inconceivable before it happens. The genuine event can only happen; it cannot be conceived or thought as possible beforehand. Happening is the only thing that it can do and it is only subsequently that its possibility, or even its cause, is thought. It is thought after the fact because nothing exists before the event. Ex-ante is an illusion.


Brownian Motion Future Event Random Generator Contingent Claim Underlying Asset 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. 3.
    Gilles Deleuze, Bergsonism, translated by Hugh Tomlinson and Barbara Habberjan (New York: Zone, 1988).Google Scholar
  2. 5.
    Henri Bergson, Matter and Memory, translated by N. M. Paul and W. S. Palmer (New York: Zone Books, 1990).Google Scholar
  3. 6.
    Maurice Blanchot, The Book to Come, translated by Charlotte Mandell (Stanford, California: Stanford University Press, 2003).Google Scholar
  4. 7.
    Elie Ayache, The Blank Swan: The End of Probability (Chichester: John Wiley & Sons Ltd, 2010).Google Scholar

Copyright information

© Elie Ayache 2015

Authors and Affiliations

  • Elie Ayache

There are no affiliations available

Personalised recommendations