Introduction To Mathematical Finance
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Author | : Arlie O. Petters |
Publisher | : Springer |
Total Pages | : 483 |
Release | : 2016-06-17 |
Genre | : Mathematics |
ISBN | : 1493937839 |
Download An Introduction to Mathematical Finance with Applications Book in PDF, Epub and Kindle
This textbook aims to fill the gap between those that offer a theoretical treatment without many applications and those that present and apply formulas without appropriately deriving them. The balance achieved will give readers a fundamental understanding of key financial ideas and tools that form the basis for building realistic models, including those that may become proprietary. Numerous carefully chosen examples and exercises reinforce the student’s conceptual understanding and facility with applications. The exercises are divided into conceptual, application-based, and theoretical problems, which probe the material deeper. The book is aimed toward advanced undergraduates and first-year graduate students who are new to finance or want a more rigorous treatment of the mathematical models used within. While no background in finance is assumed, prerequisite math courses include multivariable calculus, probability, and linear algebra. The authors introduce additional mathematical tools as needed. The entire textbook is appropriate for a single year-long course on introductory mathematical finance. The self-contained design of the text allows for instructor flexibility in topics courses and those focusing on financial derivatives. Moreover, the text is useful for mathematicians, physicists, and engineers who want to learn finance via an approach that builds their financial intuition and is explicit about model building, as well as business school students who want a treatment of finance that is deeper but not overly theoretical.
Author | : Stephen Blyth |
Publisher | : Oxford University Press, USA |
Total Pages | : 193 |
Release | : 2014 |
Genre | : Business & Economics |
ISBN | : 0199666598 |
Download An Introduction to Quantitative Finance Book in PDF, Epub and Kindle
The quantitative nature of complex financial transactions makes them a fascinating subject area for mathematicians of all types. This book gives an insight into financial engineering while building on introductory probability courses by detailing one of the most fascinating applications of the subject.
Author | : Marek Capinski |
Publisher | : Springer |
Total Pages | : 317 |
Release | : 2006-04-18 |
Genre | : Business & Economics |
ISBN | : 1852338466 |
Download Mathematics for Finance Book in PDF, Epub and Kindle
This textbook contains the fundamentals for an undergraduate course in mathematical finance aimed primarily at students of mathematics. Assuming only a basic knowledge of probability and calculus, the material is presented in a mathematically rigorous and complete way. The book covers the time value of money, including the time structure of interest rates, bonds and stock valuation; derivative securities (futures, options), modelling in discrete time, pricing and hedging, and many other core topics. With numerous examples, problems and exercises, this book is ideally suited for independent study.
Author | : Stanley R. Pliska |
Publisher | : Wiley |
Total Pages | : 276 |
Release | : 1997-07-07 |
Genre | : Business & Economics |
ISBN | : 9781557869456 |
Download Introduction to Mathematical Finance Book in PDF, Epub and Kindle
The purpose of this book is to provide a rigorous yet accessible introduction to the modern financial theory of security markets. The main subjects are derivatives and portfolio management. The book is intended to be used as a text by advanced undergraduates and beginning graduate students. It is also likely to be useful to practicing financial engineers, portfolio manager, and actuaries who wish to acquire a fundamental understanding of financial theory. The book makes heavy use of mathematics, but not at an advanced level. Various mathematical concepts are developed as needed, and computational examples are emphasized.
Author | : Sheldon M. Ross |
Publisher | : Cambridge University Press |
Total Pages | : 323 |
Release | : 2011-02-28 |
Genre | : Mathematics |
ISBN | : 1139498037 |
Download An Elementary Introduction to Mathematical Finance Book in PDF, Epub and Kindle
This textbook on the basics of option pricing is accessible to readers with limited mathematical training. It is for both professional traders and undergraduates studying the basics of finance. Assuming no prior knowledge of probability, Sheldon M. Ross offers clear, simple explanations of arbitrage, the Black-Scholes option pricing formula, and other topics such as utility functions, optimal portfolio selections, and the capital assets pricing model. Among the many new features of this third edition are new chapters on Brownian motion and geometric Brownian motion, stochastic order relations and stochastic dynamic programming, along with expanded sets of exercises and references for all the chapters.
Author | : R. J. Williams |
Publisher | : American Mathematical Society |
Total Pages | : 162 |
Release | : 2021-09-14 |
Genre | : Mathematics |
ISBN | : 1470460386 |
Download Introduction to the Mathematics of Finance Book in PDF, Epub and Kindle
The modern subject of mathematical finance has undergone considerable development, both in theory and practice, since the seminal work of Black and Scholes appeared a third of a century ago. This book is intended as an introduction to some elements of the theory that will enable students and researchers to go on to read more advanced texts and research papers. The book begins with the development of the basic ideas of hedging and pricing of European and American derivatives in the discrete (i.e., discrete time and discrete state) setting of binomial tree models. Then a general discrete finite market model is introduced, and the fundamental theorems of asset pricing are proved in this setting. Tools from probability such as conditional expectation, filtration, (super)martingale, equivalent martingale measure, and martingale representation are all used first in this simple discrete framework. This provides a bridge to the continuous (time and state) setting, which requires the additional concepts of Brownian motion and stochastic calculus. The simplest model in the continuous setting is the famous Black-Scholes model, for which pricing and hedging of European and American derivatives are developed. The book concludes with a description of the fundamental theorems for a continuous market model that generalizes the simple Black-Scholes model in several directions.
Author | : Mark H. A. Davis |
Publisher | : Oxford University Press, USA |
Total Pages | : 161 |
Release | : 2019 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 0198787944 |
Download Mathematical Finance Book in PDF, Epub and Kindle
Now a vital part of modern economies, the rapid growth of the finance industry in recent decades is largely due to the development of mathematical methods such as the theory of arbitrage. Asset valuation, credit trading, and fund management, now depend on these mathematical tools. Mark Davis explains the theories and their applications.
Author | : Christopher Hian Ann Ting |
Publisher | : World Scientific Publishing Company |
Total Pages | : 272 |
Release | : 2015-09-16 |
Genre | : Business & Economics |
ISBN | : 9814704326 |
Download An Introduction to Quantitative Finance Book in PDF, Epub and Kindle
This concise textbook provides a unique framework to introduce Quantitative Finance to advanced undergraduate and beginning postgraduate students. Inspired by Newton's three laws of motion, three principles of Quantitative Finance are proposed to help practitioners also to understand the pricing of plain vanilla derivatives and fixed income securities. The book provides a refreshing perspective on Box's thesis that "all models are wrong, but some are useful." Being practice- and market-oriented, the author focuses on financial derivatives that matter most to practitioners. The three principles of Quantitative Finance serve as buoys for navigating the treacherous waters of hypotheses, models, and gaps between theory and practice. The author shows that a risk-based parsimonious model for modeling the shape of the yield curve, the arbitrage-free properties of options, the Black-Scholes and binomial pricing models, even the capital asset pricing model and the Modigliani-Miller propositions can be obtained systematically by applying the normative principles of Quantitative Finance.
Author | : Mark S. Joshi |
Publisher | : Cambridge University Press |
Total Pages | : 0 |
Release | : 2008-10-30 |
Genre | : Business & Economics |
ISBN | : 0521514088 |
Download The Concepts and Practice of Mathematical Finance Book in PDF, Epub and Kindle
The second edition of a successful text providing the working knowledge needed to become a good quantitative analyst. An ideal introduction to mathematical finance, readers will gain a clear understanding of the intuition behind derivatives pricing, how models are implemented, and how they are used and adapted in practice.
Author | : Stephen Garrett |
Publisher | : Butterworth-Heinemann |
Total Pages | : 464 |
Release | : 2013-05-28 |
Genre | : Mathematics |
ISBN | : 0080982751 |
Download An Introduction to the Mathematics of Finance Book in PDF, Epub and Kindle
An Introduction to the Mathematics of Finance: A Deterministic Approach, 2e, offers a highly illustrated introduction to mathematical finance, with a special emphasis on interest rates. This revision of the McCutcheon-Scott classic follows the core subjects covered by the first professional exam required of UK actuaries, the CT1 exam. It realigns the table of contents with the CT1 exam and includes sample questions from past exams of both The Actuarial Profession and the CFA Institute. With a wealth of solved problems and interesting applications, An Introduction to the Mathematics of Finance stands alone in its ability to address the needs of its primary target audience, the actuarial student. Closely follows the syllabus for the CT1 exam of The Institute and Faculty of Actuaries Features new content and more examples Online supplements available: http://booksite.elsevier.com/9780080982403/ Includes past exam questions from The Institute and Faculty of Actuaries and the CFA Institute