{"product_id":"option-prices-as-probabilities-a-new-look-at-generalized-black-scholes-formulae-9783642103940","title":"Option Prices as Probabilities: A New Look at Generalized Black-Scholes Formulae","description":"\u003cp\u003e • Author(s): Christophe Profeta\u003cbr\u003e • Publisher: Springer\u003cbr\u003e • Publisher Imprint: Springer\u003cbr\u003e • BISAC: Applied\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eFrom the Back Cover\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003eThe Black-Scholes formula plays a central role in Mathematical Finance; it gives the right price at which buyer and seller can agree with, in the geometric Brownian framework, when strike K and maturity T are given. This yields an explicit well-known formula, obtained by Black and Scholes in 1973. \u003c\/p\u003e \u003cp\u003eThe present volume gives another representation of this formula in terms of Brownian last passages times, which, to our knowledge, has never been made in this sense.\u003c\/p\u003e \u003cp\u003eThe volume is devoted to various extensions and discussions of features and quantities stemming from the last passages times representation in the Brownian case such as: past-future martingales, last passage times up to a finite horizon, pseudo-inverses of processes... They are developed in eight chapters, with complements, appendices and exercises.\u003c\/p\u003e","brand":"Springer","offers":[{"title":"Paperback","offer_id":45275022262423,"sku":"9783642103940","price":3672.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783642103940.webp?v=1769281661","url":"https:\/\/atlanticbooks.com\/products\/option-prices-as-probabilities-a-new-look-at-generalized-black-scholes-formulae-9783642103940","provider":"Atlantic Books","version":"1.0","type":"link"}