From Commercial Arithmetic to Life Annuities: The Early History of ...

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• expression écrite - matière potentielle : security pricing problems by economists

25/8/96 From Commercial Arithmetic to Life Annuities: The Early History of Financial Economics, 1478-1776.* Geoffrey Poitras Faculty of Business Administration Simon Fraser University Burnaby, B.C. CANADA V5A 1S6 and Department of Economics and Statistics National University of Singapore 10 Kent Ridge Crescent SINGAPORE 0511 ABSTRACT This paper considers the early history of financial economics, focusing on the origins of security pricing theories. The period under examination, 1478-1725, starts with the first printed commercial arithmetic and ends with de Moivre' s contributions to the pricing of life annuities.

• stock companies
• life annuities
• early security market participants
• origins of security pricing theories
• shares of profit
• commercial arithmetics
• early history of financial economics
• period under examination
• life annuity
• interest