The Tree of Financial Economics

Barone, Luca

doi:10.2139/ssrn.1123484

Cited by 1 publication

(4 citation statements)

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“…Near the end of Chapter 12 Section VI, there is the exercise that made Pisano worthy to occupy not only the base of the tree of financial economics (Barone, 2008), but also to be recognized as the precursor of the present value concept as a capital budgeting criteria (Rubinstein, 2006). In Liber abbaci, that exercise is identified as On a Soldier Receiving Three Hundred Bezants for His Fief.…”

Section: Present Value Conceptmentioning

confidence: 99%

“…This work contains a section identified as Particularis de Computis et Scripturs (Details of Computation and Recording) (Pacioli, 2010) that deals with the fundamentals of double-entry bookkeeping, which is why Pacioli is now recognized as the father of accounting and bookkeeping. For Rubinstein (2006) and Barone (2008), the importance of Pacioli in the history of financial economics is related to the fact that he included the problem of the points, also known as the unfinished game and despite presenting an incorrect solution, it would later give rise to the development of modern probability (Devlin, 2008). For the case at hand, according to Devlin (2017), Pietro Cossali (1748-1815, Italian mathematician was the one who at the end of the eighteenth-century rediscovered Pisano's work.…”

Section: Fibonacci From Anonymity To Fame An Eight-century Journeymentioning

confidence: 99%

“…According to Barone (2008), who cites Goetzmann (2004), Leonardo Pisano (ca. 1170-1250), Italian mathematician, better known as Fibonacci, is at the base of the tree of financial economics, not for the diffusion of Arabic numbers in the West, but rather because he was "the first to develop present value analysis for comparing the economic value of alternative contractual cash flows" (Barone, 2008, p. 4).…”

Section: Introductionmentioning

confidence: 99%

“…Due to the foregoing, it is concluded that this is a new situation of Stephen Stigler's law of eponymy (Rubinstein, 2006). As Barone (2008) states, Rubinstein (2006) relates at least nineteen cases of Stigler's Law of eponymy in finance, one of them being the present value concept.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

El origen del valor presente como un criterio para la decisión de presupuesto de capital: un viaje a Pisa en la Edad Media

Avellaneda¹

2019

ODE

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El surgimiento de nuevas técnicas para la evaluación de inversiones, como las opciones reales, no ha logrado desplazar al valor presente neto como una de las metodologías más utilizadas para evaluar la viabilidad de una inversión. Este artículo busca explorar los orígenes del valor presente neto como una técnica para la evaluación entre alternativas de inversión. William Goetzmann sitúa el origen de esta metodología en la Edad Media, específicamente en las primeras décadas del siglo xiii, en Liber abbaci, la obra maestra de Leonardo de Pisano, más conocido como Fibonacci. Lo anterior reevalúa la creencia que sitúa este concepto en los trabajos de Irving Fisher de 1930. En cuanto al origen del sobrenombre de Fibonacci, esta investigación encontró que Pietro Cossali utilizó y explicó su significado en un escrito de 1799. Lo anterior permite reevaluar la creencia de que el apodo de Fibonacci fue dado por Guillaume Libri en 1838. Por último, este documento ofrece un tributo a todos aquellos investigadores, en este caso de la historia de las matemáticas, que como consecuencia de su trabajo arqueológico redescubren avances y desarrollos que de otra forma serían olvidados.

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Section: Present Value Conceptmentioning

confidence: 99%

Section: Fibonacci From Anonymity To Fame An Eight-century Journeymentioning

confidence: 99%