Caratheodory II: The Geometry of Financial Irreversibility
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arXiv
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| Format: | Preprint |
| Publié: |
2026
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| _version_ | 1866915851321475072 |
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| author | Meister, Bernhard K |
| author_facet | Meister, Bernhard K |
| contents | In quantum mechanics and finance, numeraire invariance - the unobservability of absolute phase or price scale - fits with a projective and curved state space. This projective geometry has a measurable signature. For spin-one and higher spin systems, the Taylor expansion of directed distance contains a non-zero cubic term, which induces a fundamental asymmetry under the exchange of states. The Second Law, the failure of Maxwell's demon, and the limitations of sequential traders can all be reduced to this asymmetry. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2603_09966 |
| institution | arXiv |
| publishDate | 2026 |
| record_format | arxiv |
| spellingShingle | Caratheodory II: The Geometry of Financial Irreversibility Meister, Bernhard K Portfolio Management In quantum mechanics and finance, numeraire invariance - the unobservability of absolute phase or price scale - fits with a projective and curved state space. This projective geometry has a measurable signature. For spin-one and higher spin systems, the Taylor expansion of directed distance contains a non-zero cubic term, which induces a fundamental asymmetry under the exchange of states. The Second Law, the failure of Maxwell's demon, and the limitations of sequential traders can all be reduced to this asymmetry. |
| title | Caratheodory II: The Geometry of Financial Irreversibility |
| topic | Portfolio Management |
| url | https://arxiv.org/abs/2603.09966 |