In the 1920s the Austrian physicist Erwin Schrödinger came up with what has become the central equation of quantum mechanics. It tells you all there is to know about a quantum physical system and it also predicts famous quantum weirdnesses such as superposition and quantum entanglement. In this, the first article of a three-part series, we introduce Schrödinger's equation and put it in its historical context.
In the previous article we introduced Schrödinger's equation and its solution, the wave function, which contains all the information there is to know about a quantum system. Now it's time to see the equation in action, using a very simple physical system as an example. We'll also look at another weird phenomenon called quantum tunneling.
When the mathematician AK Erlang first used probability theory to model telephone networks in the early twentieth century he could hardly have imagined that the science he founded would one day help solve a most pressing global
problem: how to wean ourselves off fossil fuels and switch to renewable energy sources.
Many people's impression of mathematics is that it is an ancient edifice built on centuries of research. However, modern quantitative finance, an area of mathematics with such a great impact on all our lives, is just a few decades old. The Isaac Newton Institute quickly recognised its importance and has already run two seminal programmes, in 1995 and 2005, supporting research in the field of mathematical finance.