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ISBN
:
9781852334581
Publisher
:
Springer
Subject
:
Finance & Accounting, Economics, Finance, Business & Management, Economics
Binding
:
HARDCOVER
Pages
:
455
Year
:
2004
₹
9382.0
₹
9006.0
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View DetailsDescription
This second edition - completely up to date with new exercises - provides a comprehensive and self-contained treatment of the probabilistic theory behind the risk-neutral valuation principle and its application to the pricing and hedging of financial derivatives. On the probabilistic side, both discrete- and continuous-time stochastic processes are treated, with special emphasis on martingale theory, stochastic integration and change-of-measure techniques. Based on firm probabilistic foundations, general properties of discrete- and continuous-time financial market models are discussed.
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