Explain the work and model proposed by Richardson
Explain the work and model proposed by Richardson.
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Richardson later worked upon the mathematics for the causes of war. Throughout his work on the relationship among the probability of war and the length of common borders among countries he stumbled on the concept of fractals, observing which the length of borders depended upon the length of the ‘ruler.’
This fractal nature of turbulence was summed up in his poem ‘‘Big whorls consists of little whorls which feed on their velocity, and small whorls have smaller whorls and many more to viscosity.’’
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Who derived the Black–Scholes Equation?
Who independently developed a model for simply pricing risky assets?
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