William Poundstone Quote
Samuelson spotted a mistake in Bacheliers work. Bachelier's model had failed to consider that stock prices cannot fall below zero.
Part Three, Arbitrage, The Random Walk Cosa Nostra, p. 122 - Fortune's Formula (2005)
Samuelson spotted a mistake in Bacheliers work. Bachelier's model had failed to consider that stock prices cannot fall below zero.
Part Three, Arbitrage, The Random Walk Cosa Nostra, p. 122 - Fortune's Formula (2005)