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摘要翻译：
在数量金融中，股票定价的现代方法通常建立在“Black-Scholes模型”和潜在的“随机游走假设”基础上。经验数据表明，这一假设在稳定的情况下是有效的，但在突然转变时，如在经济危机期间，随机游走模型失效，需要替代描述。为此，最近提出了几种基于量子力学形式主义的建议。本文将量子力学的SCOP理论应用到股票市场中，以提供一个操作的量子力学基础。我们认为股票市场是一个内在的上下文系统，在这个系统中，代理人的决策全局地影响市场系统和股票价格，决定了一种非经典行为。更具体地说，我们认为，给定的股票通常不具有确定的价值，例如价格，但它的价值是作为交易过程中上下文相互作用的结果而实现的。在统计水平上，这种背景影响导致了市场的非柯尔莫哥罗维量子式行为。然后，我们在我们的“隐度量形式”中提出了一个“球体模型”，它描述了股票的买入/卖出过程，并表明在直觉上假设股票在交易之前没有确定的价格是合理的。我们认为这一结果是相关的，因为它为量子模型在金融中的应用提供了理论支持。
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英文标题：
《A Quantum-like Approach to the Stock Market》
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作者：
Diederik Aerts, Bart D'Hooghe and Sandro Sozzo
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最新提交年份：
2011
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分类信息：
一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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一级分类：Physics 物理学
二级分类：Quantum Physics 量子物理学
分类描述：Description coming soon
描述即将到来
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英文摘要：
Modern approaches to stock pricing in quantitative finance are typically founded on the 'Black-Scholes model' and the underlying 'random walk hypothesis'. Empirical data indicate that this hypothesis works well in stable situations but, in abrupt transitions such as during an economical crisis, the random walk model fails and alternative descriptions are needed. For this reason, several proposals have been recently forwarded which are based on the formalism of quantum mechanics. In this paper we apply the 'SCoP formalism', elaborated to provide an operational foundation of quantum mechanics, to the stock market. We argue that a stock market is an intrinsically contextual system where agents' decisions globally influence the market system and stocks prices, determining a nonclassical behavior. More specifically, we maintain that a given stock does not generally have a definite value, e.g., a price, but its value is actualized as a consequence of the contextual interactions in the trading process. This contextual influence is responsible of the non-Kolmogorovian quantum-like behavior of the market at a statistical level. Then, we propose a 'sphere model' within our 'hidden measurement formalism' that describes a buying/selling process of a stock and shows that it is intuitively reasonable to assume that the stock has not a definite price until it is traded. This result is relevant in our opinion since it provides a theoretical support to the use of quantum models in finance.
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PDF链接：
https://arxiv.org/pdf/1110.5350
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