This post is prompted by recent articles by Steven Strogatz in the New York Times where he explains how negative numbers , rational numbers, complex numbers come into the picture in order to better deal with real life problems. Prof. Strogratz is a professor of applied mathematics at Cornell University. His style is very entertaining. The articles are a very interesting and accessible read and some of the comments of readers are sometimes even more interesting.
Likewise, as I make the case in my Introductory article on BICs, the necessity for BICs emerge from the need to tractably manage the risk management problems brought about by the emergence of complex derivative contracts.
To Read:
http://opinionator.blogs.nytimes.com/2010/02/14/the-enemy-of-my-enemy/
http://opinionator.blogs.nytimes.com/2010/02/21/division-and-its-discontents/
http://opinionator.blogs.nytimes.com/2010/03/07/finding-your-roots/?hp
http://knol.google.com/k/introduction-to-basis-instruments-contracts-bics-for-mathematics-finance-and#view
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