The End of Probability

Probability theory and the metaphysical category of possibility are based on the notion of “states of the world” (or possible worlds). In the market, the only states of the world are prices. Contingency is a very general category that is independent of thelaterdivision of the world into identifiable...

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Bibliographic Details
Published inThe Best Writing on Mathematics 2013 Vol. 4; pp. 213 - 224
Main Author Ayache, Elie
Format Book Chapter
LanguageEnglish
Published United States Princeton University Press 19.01.2014
Subjects
Applied mathematics
Applied statistics
Business
Business operations
Call options
Civil law
Commerce
Contingency fees
Contingent claims
Contract law
Contracts
Derivative contracts
Descriptive statistics
Distribution functions
Financial contracts
Industrial sectors
Industry
Law
Legal fees
Legal services
Market prices
MATHEMATICS
Metaphysics
Options contracts
Philosophy
Popular science
Price volatility
Prices
Pricing
Probabilities
Probability distributions
Probability theory
Pure mathematics
Random variables
Service industries
Statistical distributions
Statistics
Stochastic processes
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Summary:Probability theory and the metaphysical category of possibility are based on the notion of “states of the world” (or possible worlds). In the market, the only states of the world are prices. Contingency is a very general category that is independent of thelaterdivision of the world into identifiable states or the recognition of the different possible worlds that the world might be. Metaphysical thought later works contingency into the notion of separable possible states. However, pure and absolute (and initial) contingency only minimally says that the world or that the things in it could have been different. A
ISBN:9780691160412
0691160414
DOI:10.1515/9781400847990-021