Louis Bachelier on the Centenary of Théorie de la Spéculation

  title={Louis Bachelier on the Centenary of Th{\'e}orie de la Sp{\'e}culation},
  author={Jean Michel Courtault and Yuri Kabanov and Bernard Bru and Pierre Cr{\'e}pel and Isabelle Lebon and Arnaud Le Marchand},
  journal={Mathematical Finance},
Written on the occasion of the centenary of Louis Bachelier's 1900 PhD thesis “Theorie de la speculation”, this paper puts Bachelier into a historical perspective. It explains his role as a pioneer in both mathematical finance and probability theory, and it also gives a careful account of Bachelier's difficult personal and scientific career. This includes a discussion of Poincare's report on the PhD thesis (the report itself with an English translation is reproduced in the appendix), and an… 

Bachelier: Not the forgotten forerunner he has been depicted as. An analysis of the dissemination of Louis Bachelier's work in economics

Abstract This article presents the results of new research on the history of financial economics by analysing the dissemination of Louis Bachelier's work. Louis Bachelier is doubtless the best known

Bachelier's Predecessors

Recent papers by Jean Michel Cortault et al and Murad S Taqqu have cast new light on Bachelier s work and his times see S S In both articles Bernard Bru s research seems to be the most in uential In

Bachelier: Not the Forgotten Forerunner He Has Been Depicted As. An Analysis of the Dissemination of Louis Bachelier’s Work in Economics

This article presents the results of new research on the history of financial economics by analyzing the dissemination of Louis Bachelier’s work.<br><br>Louis Bachelier is doubtless the best known

Bachelier and his times: A conversation with Bernard Bru

This conversation with Bernard Bru illustrates the scientific climate of his times and the conditions under which Bachelier made his discoveries, indicating that Bacheier was indeed the right person at the right time.

Bachelier et son époque : une conversation avec Bernard Bru

Louis Bachelier defended his thesis "Theory of Spéculation" in 1900. He used Brownian motion as a model for stock exchange performance. This conversation with Bernard Bru illustrâtes the scientific

First Steps to Stochastic Finance

The first World congress of the Bachelier Finance Society has celebrated the centenary of Louis Bachelier’s thesis “Theorie de la speculation”. A brief account of this dissertation together with life

Informative Prices, Rational Investors: The Emergence of the Random Walk Hypothesis and the Nineteenth-Century "Science of Financial Investments"

In a series of articles marking the recent anniversary of Louis Bachelier’s “Théorie de la spéculation,” historians have reevaluated Bachelier’s role as a forerunner of modern financial theory and

The (Re)Introduction of Modern Finance Ideas in France between the Mid-1970s and the Early 1980s and Its Paradoxes

To date, the history of financial economics has not discussed in detail the international diffusion of financial economics (henceforth modern finance). Modern finance was supposedly “introduced” in

Book Reviews

Unless you, the reader, work in stochastic process theory, it is likely you have never heard of Louis Bachelier, one of the most original, creative, and ultimately important mathematicians of his

Rescue the Gardiner book !

The book author, professor Crispin Gardiner, is currently honorary fellow at the physics department of Victoria University of Wellington, New Zealand. He received his Ph.D. from Oxford University,



Théorie de la spéculation

© Gauthier-Villars (Éditions scientifiques et médicales Elsevier), 1900, tous droits réservés. L’accès aux archives de la revue « Annales scientifiques de l’É.N.S. » ( http://www.

Calcul des Probabilités

  • F. e.
  • Philosophy
  • 1889
Abstract“EVERYBODY makes errors in Probabilities at times, and big ones,” writes De Morgan to Sir William Hamilton. M. Bertrand appears to form an exception to this dictum, or at least to its severer

Influence of mathematical models in finance on practice: past, present and future

  • R. C. Merton
  • Economics
    Philosophical Transactions of the Royal Society of London. Series A: Physical and Engineering Sciences
  • 1994
The mathematics of finance contains some of the most beautiful applications of probability and optimization theory. Yet despite its seemingly abstruse mathematics, finance theory over the last two

An Introduction To Probability Theory And Its Applications

A First Course in Probability (8th ed.) by S. Ross is a lively text that covers the basic ideas of probability theory including those needed in statistics.

Capital ideas.

If you are one of the people love reading as a manner and you can find capital ideas as your reading material, then capital ideas is one that the authors always offer.

Laplace and the origin of the Ornstein-Uhlenbeck process

It is shown that a second-order partial differential equation, found by Laplace in 1810, is the FokkerPlanck equation for a one-dimensional Ornstein-Uhlenbeck process. It is argued that Laplace's


Barrier options have become increasingly popular over the last few years. Less expensive than standard options, they may provide the appropriate hedge in a number of risk management strategies. In

Über die analytischen Methoden in der Wahrscheinlichkeitsrechnung

ZusammenfassungEin physikalischer Prozeß (die Änderung eines physikalischen Systems) heißt stochastisch-definit, wenn aus der Kenntnis des ZustandesX0 des Systems in einem gewissen Zeitmomentt0 die