Fibonacci and the Financial Revolution
AbstractThis paper examines the contribution of Leonardo of Pisa [Fibonacci] to the history of financial mathematics. Evidence in Leonardo's Liber Abaci (1202) suggests that he was the first to develop present value analysis for comparing the economic value of alternative contractual cash flows. He also developed a general method for expressing investment returns, and solved a wide range of complex interest rate problems. The paper argues that his advances in the mathematics of finance were stimulated by the commercial revolution in the Mediterranean during his lifet
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Bibliographic InfoPaper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm432.
Date of creation: 01 Oct 2003
Date of revision: 01 Mar 2004
Other versions of this item:
- B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-18 (All new papers)
- NEP-FIN-2004-07-18 (Finance)
- NEP-HPE-2004-07-20 (History & Philosophy of Economics)
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