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Financial calculus: An Introduction to Derivative Pricing

£19.99 Out Of Stock

Product description

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 is provided.;This unique, modern and up-to-date book will be an essential purchase for market practitioners, quantitative analysts, and derivatives traders, whether existing or trainees, in investment banks in the major financial centres throughout the world.

The book itself is in EXCELLENT condition, with very little evidence of it being used, almost AS NEW. The dust jacket shows a few little signs of shelf wear.

Item details

Added value:
corrected edition
Author(s):
Baxter, Martin; Rennie, Andrew
Condition:
Used: very good
Edition:
2008 edition of the corrected edition
Format:
Hardback
ISBN-10:
0521552893
ISBN-13:
9780521552899
Number of pages:
233
Publisher:
Cambridge University Press
Title:
Financial calculus: An Introduction to Derivative Pricing

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About this item

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 is provided.;This unique, modern and up-to-date book will be an essential purchase for market practitioners, quantitative analysts, and derivatives traders, whether existing or trainees, in investment banks in the major financial centres throughout the world.

The book itself is in EXCELLENT condition, with very little evidence of it being used, almost AS NEW. The dust jacket shows a few little signs of shelf wear.

Added value:
corrected edition
Author(s):
Baxter, Martin; Rennie, Andrew
Condition:
Used: very good
Edition:
2008 edition of the corrected edition
Format:
Hardback
ISBN-10:
0521552893
ISBN-13:
9780521552899
Number of pages:
233
Publisher:
Cambridge University Press
Title:
Financial calculus: An Introduction to Derivative Pricing

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