FUNDAMENTAL ARTICLES

FUNDAMENTAL ARTICLES
  • April 2017

    No statistics can represent the abyss of the event. Only the market can, provided the story is told right.

  • March 2017

    What is the smile problem?
    How can it be interpreted?
    Do people really understand it?

  • May 2016

    Dan Tudball discusses the consequences of inverting our thinking about the market with Elie Ayache.

  • October 2011

    Financial pricing, in its usage of the term 'real probability', has not managed to unshackle itself completely from actuarial valuation. Even though the market of contingent claims is the long-awaited technology that would finally allow us to account for the future contingent events without using probability...

  • March 2011

    Plotting the grim reaper's path

  • February 2011

    The myth of ex-ante valuation.

  • October 2010

    Not only does the market not need probability, the market replaces probability.

  • June 2010

    And now for something completely different ...

  • April 2010

    Dan Tudball talks to Elie Ayache.

  • June 2008

    Elie Ayache explains why you must always think outside the box, yet keep the box with you at all times.

  • April 2008

    The capacity of writing provides the missing link between the Kerviel case and the credit meltdown argues Elie Ayache.

  • February 2008

    Necessity of the Future. Elie Ayache: From the Hume-event to the 1987-event, through Cantor and Badiou.

  • December 2007

    Necessity of Contingency. As a fresh (and French) theorist of speculation, Elie Ayache combines a French president and a young French philosopher.

  • October 2007

    Credit led to the “disappearance” of the market; Elie Ayache ponders how we should make preparations for its return.

  • August 2007

    The best way to predict the Black Swan is to write it, claims Elie Ayache. In other words, to replicate it, to trade it, to exchange it. This is why his Black Swan is set against Taleb's, and in a way, written all over (against) it.

  • June 2007

    The best way to predict the Black Swan is to write it, claims Elie Ayache. In other words, to replicate it, to trade it, to exchange it. This is why his Black Swan is set against Taleb's, and in a way, written all over (against) it.

  • April 2007

    Elie Ayache contends that dynamic replication is the “inaugural event” of derivatives markets. Ayache continues his theme and shows how the October 1987 crash can be seen as the “other” beginning of derivatives markets. Both beginnings (the first and the other) are required in order to address the question of the next technology for derivatives markets.

  • February 2007

    Elie Ayache contends that dynamic replication is the “inaugural event” of derivatives markets. Ayache continues his theme and shows how the October 1987 crash can be seen as the “other” beginning of derivatives markets. Both beginnings (the first and the other) are required in order to address the question of the next technology for derivatives markets.

  • June 2006

    Learn how Capacity, not Possibility or Probability, is the dynamic trader's main virtue, according to Elie Ayache, and how derivatives markets are the technology of the future.

  • August 2005

    Learn how the philosophy of Jacques Derrida can provide the “non-foundation” of the founding paradox of derivative pricing, according to Elie Ayache.

  • June 2005

    Elie Ayache proposes that the market is a new “epoch” of Being.

  • April 2005

    Elie Ayache proposes that the market is a new “epoch” of Being.

  • February 2005

    Uncovering a broader view of probability by taking a lead from Quantitative Finance.

  • October 2004

    Elie Ayache takes a step beyond essential uncertainty to tie up a few loose ends.

  • August 2004

    The concluding part of the discussion on a new view on quantitative finance.

  • June 2004

    Introducing a new voice in option language and the central question all quants need to ask.

  • May 2004

    “Why should we write about smile models?” asks Elie Ayache. “This is the question behind the question. For if the definitive smile model is not yet in sight, perhaps a definitive smile story is possible.”

  • April 2004

    “Why should we write about smile models?” asks Elie Ayache. “This is the question behind the question. For if the definitive smile model is not yet in sight, perhaps a definitive smile story is possible.”

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