Abstract

http://ssrn.com/abstract=461740
 
 

References (44)



 
 

Citations (3)



 


 



Fibonacci and the Financial Revolution


William N. Goetzmann


Yale School of Management - International Center for Finance; National Bureau of Economic Research (NBER)

October 23, 2003

Yale ICF Working Paper No. 03-28

Abstract:     
This 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 lifetime, and in turn, his discoveries significantly influenced the evolution of capitalist enterprise and public finance in Europe in the centuries that followed. Fibonacci's discount rates were more culturally influential than his famous series.

Number of Pages in PDF File: 44

working papers series





Download This Paper

Date posted: October 27, 2003  

Suggested Citation

Goetzmann, William N., Fibonacci and the Financial Revolution (October 23, 2003). Yale ICF Working Paper No. 03-28. Available at SSRN: http://ssrn.com/abstract=461740

Contact Information

William N. Goetzmann (Contact Author)
Yale School of Management - International Center for Finance ( email )
135 Prospect Street
P.O. Box 208200
New Haven, CT 06520-8200
United States
203-432-5950 (Phone)
203-432-8931 (Fax)
HOME PAGE: http://viking.som.yale.edu

National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Feedback to SSRN


Paper statistics
Abstract Views: 16,302
Downloads: 3,030
Download Rank: 1,550
References:  44
Citations:  3

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo3 in 0.422 seconds