The Medium of Contingency brings a completely new and original perspective to the relationship between the reality of the marketplace and its disassociation with the probabilistic and
statistical tools used to model and support it. It utlises the author’s extensive experience and research in derivatives pricing, the analysis of the theory of contingent claims and
philosophy, and builds on the work of thinkers such as von Mises, Kolmogorov, Shafer and Vovk. This book argues a new way of thinking about the mathematical applications of finance: that
market is ’real’ and relates to contingency, and yet has nothing to do with probability, when the latter is understood in its relation with statistics. Thus, a new appreciation of these
relationships need to be developed to effectively apply them to the market.
This book provides original insight into the relationship between financial mathematics and financial markets, and provides new perspectives on the theory of derivatives pricing in the
quantitative finance industry.
