## Louis Bachelier defended his thesis “Theory of Speculation” in 1900.

May from Annales scientiﬁques de l’Ecole Normale Sup´ erieure´ , Ser.´.Louis Jean-Baptiste Alphonse Bachelier (March 11, 1870 - April 28, 1946) was a French mathematician at the turn of the 20th century.

Louis Bachelier was a French mathematician credited with being the first person to model the stochastic process now called Brownian motion, which was part of his PhD thesis The Theory of Speculation. His thesis, which discussed the use of Brownian motion to evaluate stock options, is historically the first paper to use advanced mathematics in the study of finance. Thus, Bachelier is considered a pioneer in the study of financial mathematics and stochastic processes. His systematic use of the concept of continuity in probabilistic modeling was, he felt, his major contribution to science. He defined Brownian motion predating Einstein by five years and discussed the use of Brownian motion to evaluate stock options. Historically, he was the first person to use advanced mathematics in the study of finance and is considered a pioneer in the study of financial mathematics.

## Louis Bachelier defended his thesis “Theory of Speculation ” in 1900.

Bachelier did not develop this part of his The thesis received a grade of honorable, and was accepted for .Lees Louis Bachelier's Theory of Speculation The Origins of Modern Finance door Mark Davis met Kobo.

## Louis Bachelier : Wikis (The Full Wiki)

Established in 2008, the Institut Louis Bachelier is a partnership-based research network in economics and finance. It brings together academic institutions, companies and public authorities with a view to shedding light on economic issues. The Institute structures its research programmes around four major transitions: banking and financial, demographic, energy, and digital.

## Louis Jean-Baptiste Alphonse Bachelier ..

Established in 2008, the Institut Louis Bachelier is a partnership-based research network in economics and finance. It brings together academic institutions, companies and public authorities with a view to shedding light on economic issues. The Institute structures its research programmes around four major transitions: banking and financial, demographic, energy, and digital.

## Our history - Institut Louis Bachelier

The first known work applying advanced mathematics to option pricing (and to finance in general) was by French mathematician Louis Bachelier. His thesis, titled *Theory of Speculation* [], used the concept now known as Brownian motion (from physics) or Wiener process (from mathematics) to model stock option prices – the same concept that provides the foundation of Black-Scholes and many other financial models. The date of Bachelier’s thesis defense, 29 March 1900, is sometimes mentioned as the origin of quantitative finance.

## Louis Bachelier's Theory of Speculation: ..

Bachelier was born in . His father was a merchant and , and thevice-consul of at Le Havre. His mother was the daughter of an important banker(who was also a writer of books). Both of Louis' parents died justafter he completed his high school diploma ("baccalauréat" inFrench), forcing him to take care of his sister and three-year-oldbrother and to assume the family business, which effectively puthis graduate studies on hold. During this time Bachelier gained apractical acquaintance with the financial markets. His studies werefurther delayed by service. Bachelier arrived in Parisin 1892 to study at the , where his grades wereless than ideal.

## Reliving the Life of Louis Bachelier - DASH Harvard

**Louis Jean-Baptiste Alphonse Bachelier** (March11, 1870 – April 28, 1946)^{} was aFrench at the turn of the 20thcentury. He is credited with being the first person to model thestochastic process now called , which was part of hisPhD thesis *The Theory of Speculation*, (published1900).