Exposition and Appraisal
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How was the economic, cultural and social atmosphere in the late Habsburg monarchy? Why did Bronzin’s contribution not get a broader recognition by economists and mathematicians in the socio-economic setting of that time?
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In historical perspective the Austro-Hungarian Monarchy around 1900 was over a long period of time perceived as a state which chiefly flourished in cultural fields. However at the same time it was viewed as persisting in the state of hopeless economical backwardness. This paper attempts to revise the rather distorted picture and to replace it by a more differentiated consideration which is based on...
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In the following article we shall be tracing the international socio-economic influences, particularly those specific to Trieste, which laid the foundations for the development of Bronzin’s work on premium contracts. The educational system played a central role in institutionalizing certain concepts and ideas. Most notably, there was a change of paradigm in the teaching methodology for mathematics...
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In two parts, the author derives a number of formulae and how they relate to premium contracts.
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When Vinzenz Bronzin published his book “Theorie der Prämiengeschäfte” (“Theory of Premium Contracts”), he received no support from the “Monatshefte für Mathematik und Physik” (“Monthly Bulletin of Mathematics and Physics”), the foremost publishing organ for mathematicians in the Austro-Hungarian empire. On the contrary, his ideas were judged to be of no practical use.1 This raises questions about...
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The history and interpretation of the model for princing options that Bronzin proposed delineates and explains the evolution of the concept and indicates how risk was perceived by the society of the day. Financial derivatives, which were developed specifically to address trading risks, are now of central importance to a society for which security has become an empty concept and risk has become inevitable...
