The rewards and dangers of speculating in the modern financial markets have come to the fore in recent times with the collapse of banks and bankruptcies of public corporations as a direct result of ill-judged investment. At the same time, individuals are paid huge sums to use their mathematical skills to make well-judged investment decisions. Here now is the first rigorous and accessible account of the mathematics behind the pricing, construction and hedging of derivative securities. Key concepts such as martingales, change of measure, and the Heath-Jarrow-Morton model are described with mathematical precision in a style tailored for market practitioners. Starting from discrete-time hedging on binary trees, continuous-time stock models (including Black-Scholes) are developed. Practicalities are stressed, including examples from stock, currency and interest rate markets, all accompanied by graphical illustrations with realistic data. A full glossary of probabilistic and financial terms
Architectural Space in Eighteenth-Century Europe: Constructing Identities and Interiors explores how a diverse, pan-European group of eighteenth-century patrons - among them bankers, bishops, bluestoc
This fine collection of essays makes an important contribution to the literature on 18th-century architectural space as it was constructed and experienced across Europe...the essays uniformly move bey
In the second volume of The Story about the Story, editor J. C. Hallman continues to argue for an alternative to the staid five-paragraph-essay writing that has inoculated so many against the effects
