Introduction to Mathematical Finance: Discrete-Time Models: Discrete-Time Models

Author: Wang Zhongyu
Publisher:
Publish Date: 2003-03-01
Features: During the two periods of the 1950s and 1970s in the last century, some wise people proposed the two central issues of modern finance: "Risk Management and Benefit Optimization." Since then, almost all theories of mathematical finance have also revolved around these two fundamental questions. It should be noted that: introducing mathematical concepts into the study of financial market institutions, financial instruments, and financial analytical methods has enabled the enrichment and development of financial analytical methods and has also enriched the financial research methodology system. Mathematical finance is a research topic that is based on the assumption of divergence and employs mathematical methods to study financial institutions and financial instruments. However, so far, mathematical finance has not been clearly defined in the mainstream economics community. This book includes: single-period securities market; single-period consumption and investment; multi-period securities market; optimal consumption and investment problems; bonds and interest rate derivative securities, etc.