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

Elie Ayache

Chapter 6 in The Medium of Contingency, 2015, pp 146-156 from Palgrave Macmillan

Abstract: Abstract 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.

Keywords: Brownian Motion; Future Event; Random Generator; Contingent Claim; Underlying Asset (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-1-137-28656-7_7

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