Fibonacci and the financial revolution
By: William N. Goetzmann.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10352; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10352.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Fibonacci, Leonardo, ca. 1170-ca. 1240.; Finance -- Mathematics.
Description: "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"--National Bureau of Economic Research web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 1/18/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.