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Mathematical Finance: Theory, Modeling, Implementation
By: Christian FrieseBook Publisher: John Wiley & Sons
Imprint: John Wiley & Sons, Inc.
Format: Adobe Encrypted (DRM)
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This book concentrates on the theory of mathematical finance and the pricing of derivatives around the theory. The topics are presented from their mathematical foundations to their real-world implementation (through pricing models) using state-of-the art object oriented programming techniques. While a high standard of mathematical precision is retained throughout the book, the emphasis remains on practical motivations, interpretations, and results. The book harmonizes theory, practical modeling, and financial methods under one convenient cover.
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| Title of eBook: Mathematical Finance: Theory, Modeling, Implementation | |
| Release Date: 10-19-2007 | |
| Publisher: John Wiley & Sons, Inc. |
This eBook download is available in the following formats:
| Parent title | Mathematical Finance: Theory,... |
|---|---|
| Encrypted (DRM) | Yes |
| SKU | 9780470179772 |
| File size | 26963 |
| Security | n/a |
| Printing | Not allowed |
| Copying | Not allowed |
| Read aloud | No Sys requirements Download reader |
| Devices | Samsung Tablet, Apple Ipad & Iphone, Barnes & Noble Nook, Kobo eReader, Aluratek Libre, Iliad, Nokia, Blackberry, Hanlin |
| Note | Excellent navigation features are available via Adobe such as bookmarks and a quick access table of contents. Text search is easily accessible. An Adobe DRM-protected file is different than a pdf file in that it uses Adobe DRM (Digital Rights Management) technology, which authors and publishers use to protect their content from illegal online distribution and to set certain privileges such as restrictions on copying and printing. |
Mathematical Finance: Theory, Modeling, Implementation
Chapter One
Introduction
1.1 Theory, Modeling, and Implementation
This book tries to give a balanced representation of the theoretical foundations of mathematical finance, especially derivative pricing, state-of-the-art models, which are actually used in practice, and their implementation.
In practice, none of the three aspects-theory, modeling, and implementation-can be considered alone. Knowledge of the theory is worthless if it isn't applied. Theory provides the tools for consistent of modeling. A model without implementation is essentially worthless. Good implementation requires a deep understanding of the model and the underlying theory.
With this in mind, the book tries to build a bridge from academia to practice and from theory to object-oriented implementation.
1.2 Interest Rate Models and Interest Rate Derivatives
The text concentrates on the modeling of interest rates as stochastic (undetermined) quantities and the evaluation of interest of rate derivatives under such models. However, this is not a specialization! Although the mathematical modeling of stock prices was the historical starting point and interest rates were assumed to be constant, some important theoretical aspects are significant only for stochastic interest rates (e.g. the change of num
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