Option Prices as Probabilities


Book Description

Discovered in the seventies, Black-Scholes formula continues to play a central role in Mathematical Finance. We recall this formula. Let (B ,t? 0; F ,t? 0, P) - t t note a standard Brownian motion with B = 0, (F ,t? 0) being its natural ?ltra- 0 t t tion. Let E := exp B? ,t? 0 denote the exponential martingale associated t t 2 to (B ,t? 0). This martingale, also called geometric Brownian motion, is a model t to describe the evolution of prices of a risky asset. Let, for every K? 0: + ? (t) :=E (K?E ) (0.1) K t and + C (t) :=E (E?K) (0.2) K t denote respectively the price of a European put, resp. of a European call, associated with this martingale. Let N be the cumulative distribution function of a reduced Gaussian variable: x 2 y 1 ? 2 ? N (x) := e dy. (0.3) 2? ?? The celebrated Black-Scholes formula gives an explicit expression of? (t) and K C (t) in terms ofN : K ? ? log(K) t log(K) t ? (t)= KN ? + ?N ? ? (0.4) K t 2 t 2 and ? ?




Public Policy: Politics, Analysis, and Alternatives, 4th Edition


Book Description

All too often, public policy textbooks offer a basic grounding in the policy process without the benefit of integrating the use of policy analysis. Kraft and Furlong, since their first edition, take a different tack. They want students to understand how and why policy analysis is used to assess policy alternatives--not only to question the assumptions of policy analysts, but to recognize how analysis is used in support of political arguments. To encourage critical and creative thinking on issues ranging from the financial bailout to rising gas prices to natural disasters, the authors introduce and fully integrate an evaluative approach to policy. Public Policy starts with a concise review of institutions, policy actors, and major theoretical models. The authors then discuss the nature of policy analysis and its practice, and show students how to employ evaluative criteria in six substantive policy areas. Public Policy arms students with analytic tools they need to understand the motivations of policy actors--both within and outside of government--influence a complex, yet comprehensible, policy agenda. Enhancements to the 4th edition: - All chapters have been comprehensively updated to include recent events, issues, and policy debates including the conduct of the wars in Afghanistan and Iraq, the use of private contractors for military support and operations, the rising cost of gasoline and disputes over energy policy and climate change, the controversy over immigration policy, requirements for financial regulation, heightened concerns over economic and social inequality, and the clash over reforming taxes and entitlement programs, as well as dealing with the federal deficit and national debt. - New and updated "working with sources" and "steps to analysis" features help students investigate sources of information and apply evaluative criteria. - New and updated end-of chapter discussion questions, suggested readings, and web sites.




The Homeschooling Option


Book Description

Correcting misconceptions through profiles of diverse families, Rivero uncovers the changing and complex needs of children today. This book addresses the major questions parents are bound to have as they consider the homeschooling option: socialization, curriculum, special needs arrangements, resources, and more.




Therapeutic Exercise for Musculoskeletal Injuries 4th Edition


Book Description

Updated with the latest in contemporary science and peer-reviewed data, Therapeutic Exercise for Musculoskeletal Injuries, Fourth Edition, prepares students for real-world applications while serving as a referential cornerstone for experienced rehabilitation clinicians.




Massage Therapy E-Book


Book Description

Make the essential principles of massage therapy more approachable! Covering massage fundamentals, techniques, and anatomy and physiology, Massage Therapy: Principles and Practice, 6th Edition prepares you for success in class, on exams, and in practice settings. The new edition of this student friendly text includes more than 700 images, expanded information on the latest sanitation protocols, critical thinking questions at the end of each chapter, and updated pathologies which reflect what you will encounter in the field. - UPDATED pathologies ensure they are current and reflect what you will see in the field as a practitioner. - UPDATED Research Literacy and evidence-informed practice skills, emphasize how to locate and apply scientific data and the latest research findings in your massage practice. - Licensing and Certification Practice Exams on Evolve mimics the major high-stakes exams in format and content, builds confidence, and helps increase pass rates. - Complete anatomy and physiology section, in addition to material on techniques and foundations, you all the information you need in just one book. - Robust art program enhances your understanding and comprehension of each topic presented through visual representation. - Case studies challenge you to think critically and apply your understanding to realistic scenarios, foster open-mindedness, cultural competency, and stimulate dialogue. - Profile boxes provide an inspirational, real-world perspective on massage practice from some of the most respected authorities in massage and bodywork. - Clinical Massage chapter focuses on massage in therapeutic and palliative settings such as hospitals, chiropractic and physical therapy offices, nursing homes, and hospice care centers to broaden your career potential. - Business chapter loaded with skills to help make you more marketable and better prepared for today's competitive job market. - NEW! UPDATED information throughout, including the latest sanitation protocols, ensures the most current, accurate, and applicable content is provided and is appropriate for passing exams and going straight into practice. - NEW! Critical thinking questions at the end of the chapters help you develop clinical reasoning skills. - NEW! Maps to FSMTB's MBLEx exam, the Entry Level Analysis Project (ELAP), and Massage Therapy Body of Knowledge (MTBOK) to illustrate that our content is in line with the core entry-level massage therapy curriculum. - NEW! Revised Kinesiology images include colored indications of origins and insertions.




Handbook of Computational Finance


Book Description

Any financial asset that is openly traded has a market price. Except for extreme market conditions, market price may be more or less than a “fair” value. Fair value is likely to be some complicated function of the current intrinsic value of tangible or intangible assets underlying the claim and our assessment of the characteristics of the underlying assets with respect to the expected rate of growth, future dividends, volatility, and other relevant market factors. Some of these factors that affect the price can be measured at the time of a transaction with reasonably high accuracy. Most factors, however, relate to expectations about the future and to subjective issues, such as current management, corporate policies and market environment, that could affect the future financial performance of the underlying assets. Models are thus needed to describe the stochastic factors and environment, and their implementations inevitably require computational finance tools.




SEC Docket


Book Description







Mosby's Review Questions for the Speech-Language Pathology PRAXIS Examination E-Book


Book Description

With approximately 1,400 practice questions – more than any other exam review – this book provides the most complete, reliable preparation available for the PRAXIS II subject assessment examination. Review questions can be selected to match the style and question distribution of the real exam to familiarize you with the examination experience and help you build test-taking confidence. This title includes additional digital media when purchased in print format. For this digital book edition, media content is not included.




PharmaHandbook 5th Edition


Book Description