Browse Results What Download Format Should I Choose?

Showing 1 through 3 of 3 results

The Black-Scholes Model

by Marek Capi Ski Ekkehard Kopp

The Black-Scholes option pricing model is the first and by far the best-known continuous-time mathematical model used in mathematical finance. Here, it provides a sufficiently complex, yet tractable, testbed for exploring the basic methodology of option pricing. The discussion of extended markets, the careful attention paid to the requirements for admissible trading strategies, the development of pricing formulae for many widely traded instruments and the additional complications offered by multi-stock models will appeal to a wide class of instructors. Students, practitioners and researchers alike will benefit from the book's rigorous, but unfussy, approach to technical issues. It highlights potential pitfalls, gives clear motivation for results and techniques and includes carefully chosen examples and exercises, all of which make it suitable for self-study.

Probability for Finance

by Tomasz Zastawniak Ekkehard Kopp Jan Malczak

Students and instructors alike will benefit from this rigorous, unfussy text, which keeps a clear focus on the basic probabilistic concepts required for an understanding of financial market models, including independence and conditioning. Assuming only some calculus and linear algebra, the text develops key results of measure and integration, which are applied to probability spaces and random variables, culminating in central limit theory. Consequently it provides essential prerequisites to graduate-level study of modern finance and, more generally, to the study of stochastic processes. Results are proved carefully and the key concepts are motivated by concrete examples drawn from financial market models. Students can test their understanding through the large number of exercises and worked examples that are integral to the text.

Stochastic Calculus for Finance

by Janusz Traple Marek Capinski Ekkehard Kopp

This book focuses specifically on the key results in stochastic processes that have become essential for finance practitioners to understand. The authors study the Wiener process and Itô integrals in some detail, with a focus on results needed for the Black-Scholes option pricing model. After developing the required martingale properties of this process, the construction of the integral and the Itô formula (proved in detail) become the centrepiece, both for theory and applications, and to provide concrete examples of stochastic differential equations used in finance. Finally, proofs of the existence, uniqueness and the Markov property of solutions of (general) stochastic equations complete the book. Using careful exposition and detailed proofs, this book is a far more accessible introduction to Itô calculus than most texts. Students, practitioners and researchers will benefit from its rigorous, but unfussy, approach to technical issues. Solutions to the exercises are available online.

Showing 1 through 3 of 3 results


Select your download format based upon: 1) how you want to read your book, and 2) compatibility with your reading tool. For more details, visit the Formats page under the Getting Started tab.

See and hear words read aloud
  • DAISY Text - See words on the screen and hear words being read aloud with the text-to-speech voice installed on your reading tool. Navigate by page, chapter, section, and more. Can also be used in audio-only mode. Compatible with many reading tools, including Bookshare’s free reading tools.
  • DAISY Text with Images - Similar to DAISY Text with the addition of images within the Text. Your reading tool must support images.
  • Read Now with Bookshare Web Reader - Read and see images directly from your Internet browser without downloading! Text-to-speech voicing and word highlighting are available on Google Chrome (extension installation required). Other browsers can be used with limited features. Learn more
Listen to books with audio only
  • DAISY Audio - Listen to books in audio-only mode with the high-quality Kendra voice by Ivona pre-installed. Navigate by page, chapter, section, and more. Must be used with a DAISY Audio compatible reading tool.
  • MP3 - Listen to books in audio-only mode with the high-quality Kendra voice by Ivona pre-installed. Navigate using tracks. Can be used with any MP3 player.
Read in Braille
  • BRF (Braille Ready Format) - Read with any BRF compatible refreshable braille display; navigate using the search or find feature.
  • DAISY Text - Read with any DAISY 3.0 compatible refreshable braille display, navigate by page, chapter, section, and more.
  • Embossed Braille - Use Bookshare’s DAISY Text or BRF formats to generate embossed braille.