Item description for Visual Explorations in Finance: with Self-Organizing Maps (Springer Finance) by Guido Deboeck...
Self-organizing maps (SOM) have proven to be of significant economic value in the areas of finance, economic and marketing applications. As a result, this area is rapidly becoming a non-academic technology. This book looks at near state-of-the-art SOM applications in the above areas, and is a multi-authored volume, edited by Guido Deboeck, a leading exponent in the use of computational methods in financial and economic forecasting, and by the originator of SOM, Teuvo Kohonen. The book contains chapters on applications of unsupervised neural networks using Kohonen's self-organizing map approach.
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Est. Packaging Dimensions: Length: 9.3" Width: 6" Height: 1" Weight: 1.2 lbs.
Release Date Sep 2, 1998
ISBN 3540762663 ISBN13 9783540762669
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Reviews - What do customers think about Visual Explorations in Finance: with Self-Organizing Maps (Springer Finance)?
Essential SOM Oct 3, 2006
A classic for those who want rigorous mathematics applied to useful quantitative decisions. Despite being a collection of different chapters by different authors, do not worry. All of them, coordinated by Deboeck, make this book a "must" for those who, like me, are involved in the hard task of selecting Stocks, Bonds or Funds for the asset allocation process.
This is not the only book you should have in your shelves to know about this discipline. But it is the only one who will clearly show you the wide different applications of SOM in Financial Markets. Eminently practical (yes, it is true!), this is the perfect companion of the famous Kohonen's book.
Last, but not least, lots of examples very well documented and concisely explained. These can be easily implemented through the commercial software Mr Deboeck uses as tools.
Fascinating but the price isn't right... Mar 22, 2001
SOM are a kind of neural networks that are totally different from the feedforward multi-layered networks that everybody has heard about. The ideas behind SOM are remarkable intellectual stuff, first intellectual class stuff, and would certainly deserve to be more widely known. I found myself wondering how comes I rarely heard of Prof. Kohonen, and when is he going to win the Nobel prize... Prof. Kohonen and the development of SOM would make a good subject for the James Gleicks out there.
This book is in fact a collection of short articles about how SOM can be applied to financial visualisation and classification problems. Compilations of articles are a awkward genre, ranging from either the totally unitelligible or the totally trivial, and if you have graduate education in finance, you will find that most of the articles are pretty lame, if not downright amateurish, compared to standard academic finance literature; if you don't have grad education, I'm not sure whether you would want to buy this book in the first place, but there's nothing particularly hard about it. Art buffs may be attracted by the richly colored SOM maps (Vasarely-like) that come inside the book, and I could imagine somebody exposing these in an art gallery...
Anyway, after going through this book, one gets a decent idea of what can be done with SOM, so I would definitely say IT IS worth reading. I have to say I found it utterly fascinating, although I was disappointed with most of the articles.
Another thing I don't like about the book is the price (I mean, OUCH!)... The other thing is the fact that even after reading the theory article by Professor Kohonen in this book, I still couldn't understand intuitively how the basic SOM convergence algorithm worked. It is only after reading the first few pages of his masterpiece "Self-Organizing Maps", published at Springer in 1992 that I had the "haha!" experience and that I decided to put Professor Kohonen on the pedestal of my personal heroes of science...