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An Introduction To The Mathematics Of Finance

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Introduction to the Mathematics of Finance

Introduction to the Mathematics of Finance Book
Author : Ruth J. Williams
Publisher : American Mathematical Soc.
Release : 2006
ISBN : 0821839039
Language : En, Es, Fr & De

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Book Description :

The modern subject of mathematical finance has undergone considerable development, both in theory and practice, since the seminal work of Black and Scholes appeared a third of a century ago. This book is intended as an introduction to some elements of the theory that will enable students and researchers to go on to read more advanced texts and research papers. The book begins with the development of the basic ideas of hedging and pricing of European and American derivatives in the discrete (i.e., discrete time and discrete state) setting of binomial tree models. Then a general discrete finite market model is introduced, and the fundamental theorems of asset pricing are proved in this setting. Tools from probability such as conditional expectation, filtration, (super)martingale, equivalent martingale measure, and martingale representation are all used first in this simple discrete framework. This provides a bridge to the continuous (time and state) setting, which requires the additional concepts of Brownian motion and stochastic calculus. The simplest model in the continuous setting is the famous Black-Scholes model, for which pricing and hedging of European and American derivatives are developed. The book concludes with a description of the fundamental theorems for a continuous market model that generalizes the simple Black-Scholes model in several directions.

An Introduction to the Mathematics of Finance

An Introduction to the Mathematics of Finance Book
Author : John J. McCutcheon,William F. Scott
Publisher : Butterworth-Heinemann
Release : 1986
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download An Introduction to the Mathematics of Finance book written by John J. McCutcheon,William F. Scott, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

An Introduction to the Mathematics of Financial Derivatives

An Introduction to the Mathematics of Financial Derivatives Book
Author : Salih N. Neftci,Ali Hirsa,Salih N.. Neftci
Publisher : Academic Press
Release : 2000-06-02
ISBN : 0125153929
Language : En, Es, Fr & De

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Book Description :

A step-by-step explanation of the mathematical models used to price derivatives. For this second edition, Salih Neftci has expanded one chapter, added six new ones, and inserted chapter-concluding exercises. He does not assume that the reader has a thorough mathematical background. His explanations of financial calculus seek to be simple and perceptive.

An Introduction to Mathematical Finance with Applications

An Introduction to Mathematical Finance with Applications Book
Author : Arlie O. Petters,Xiaoying Dong
Publisher : Springer
Release : 2016-06-17
ISBN : 1493937839
Language : En, Es, Fr & De

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Book Description :

This textbook aims to fill the gap between those that offer a theoretical treatment without many applications and those that present and apply formulas without appropriately deriving them. The balance achieved will give readers a fundamental understanding of key financial ideas and tools that form the basis for building realistic models, including those that may become proprietary. Numerous carefully chosen examples and exercises reinforce the student’s conceptual understanding and facility with applications. The exercises are divided into conceptual, application-based, and theoretical problems, which probe the material deeper. The book is aimed toward advanced undergraduates and first-year graduate students who are new to finance or want a more rigorous treatment of the mathematical models used within. While no background in finance is assumed, prerequisite math courses include multivariable calculus, probability, and linear algebra. The authors introduce additional mathematical tools as needed. The entire textbook is appropriate for a single year-long course on introductory mathematical finance. The self-contained design of the text allows for instructor flexibility in topics courses and those focusing on financial derivatives. Moreover, the text is useful for mathematicians, physicists, and engineers who want to learn finance via an approach that builds their financial intuition and is explicit about model building, as well as business school students who want a treatment of finance that is deeper but not overly theoretical.

Introduction to the Mathematics of Finance

Introduction to the Mathematics of Finance Book
Author : Steven Roman
Publisher : Springer Science & Business Media
Release : 2013-12-01
ISBN : 1441990054
Language : En, Es, Fr & De

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Book Description :

An elementary introduction to probability and mathematical finance including a chapter on the Capital Asset Pricing Model (CAPM), a topic that is very popular among practitioners and economists. Dr. Roman has authored 32 books, including a number of books on mathematics, such as Coding and Information Theory, Advanced Linear Algebra, and Field Theory, published by Springer-Verlag.

An Introduction to the Mathematics of Finance

An Introduction to the Mathematics of Finance Book
Author : Alfred Hurlstone Pollard
Publisher : Pergamon
Release : 1977
ISBN : 9780080217963
Language : En, Es, Fr & De

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Book Description :

An Introduction to the Mathematics of Finance provides a simple, nonmathematical introduction to the mathematics of finance. Topics discussed in this book include simple interest; compound interest-annual compounding; annuities-certain; use of compound interest; and sinking funds. The equations of value; compounding more frequently than annually; and contracts at """"flat"""" rates of interest are also deliberated. This text likewise elaborates on the loans repayable by equal annual installments when interest is charged only on the amount of principal from time to time outstanding. Exercises a...

An Introduction to the Mathematics of Finance

An Introduction to the Mathematics of Finance Book
Author : Stephen Garrett
Publisher : Butterworth-Heinemann
Release : 2016-05-19
ISBN : 9780081013021
Language : En, Es, Fr & De

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Book Description :

An Introduction to the Mathematics of Finance: A Deterministic Approach, Second edition, offers a highly illustrated introduction to mathematical finance, with a special emphasis on interest rates. This revision of the McCutcheon-Scott classic follows the core subjects covered by the first professional exam required of UK actuaries, the CT1 exam. It realigns the table of contents with the CT1 exam and includes sample questions from past exams of both The Actuarial Profession and the CFA Institute. With a wealth of solved problems and interesting applications, An Introduction to the Mathematics of Finance stands alone in its ability to address the needs of its primary target audience, the actuarial student. Closely follows the syllabus for the CT1 exam of The Institute and Faculty of Actuaries Features new content and more examples Online supplements available: http://booksite.elsevier.com/9780080982403/ Includes past exam questions from The Institute and Faculty of Actuaries and the CFA Institute

Mathematics of Finance

Mathematics of Finance Book
Author : Donald G. Saari
Publisher : Springer Nature
Release : 2019-08-31
ISBN : 3030254437
Language : En, Es, Fr & De

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Book Description :

This textbook invites the reader to develop a holistic grounding in mathematical finance, where concepts and intuition play as important a role as powerful mathematical tools. Financial interactions are characterized by a vast amount of data and uncertainty; navigating the inherent dangers and hidden opportunities requires a keen understanding of what techniques to apply and when. By exploring the conceptual foundations of options pricing, the author equips readers to choose their tools with a critical eye and adapt to emerging challenges. Introducing the basics of gambles through realistic scenarios, the text goes on to build the core financial techniques of Puts, Calls, hedging, and arbitrage. Chapters on modeling and probability lead into the centerpiece: the Black–Scholes equation. Omitting the mechanics of solving Black–Scholes itself, the presentation instead focuses on an in-depth analysis of its derivation and solutions. Advanced topics that follow include the Greeks, American options, and embellishments. Throughout, the author presents topics in an engaging conversational style. “Intuition breaks” frequently prompt students to set aside mathematical details and think critically about the relevance of tools in context. Mathematics of Finance is ideal for undergraduates from a variety of backgrounds, including mathematics, economics, statistics, data science, and computer science. Students should have experience with the standard calculus sequence, as well as a familiarity with differential equations and probability. No financial expertise is assumed of student or instructor; in fact, the text’s deep connection to mathematical ideas makes it suitable for a math capstone course. A complete set of the author’s lecture videos is available on YouTube, providing a comprehensive supplementary resource for a course or independent study.

Mathematical Finance

Mathematical Finance Book
Author : Mark H. A. Davis
Publisher : Oxford University Press, USA
Release : 2019
ISBN : 0198787944
Language : En, Es, Fr & De

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Book Description :

Now a vital part of modern economies, the rapid growth of the finance industry in recent decades is largely due to the development of mathematical methods such as the theory of arbitrage. Asset valuation, credit trading, and fund management, now depend on these mathematical tools. Mark Davis explains the theories and their applications.

Introduction to Mathematical Finance

Introduction to Mathematical Finance Book
Author : David C. Heath Glen Swindle
Publisher : American Mathematical Soc.
Release : 2000-01-25
ISBN : 9780821867624
Language : En, Es, Fr & De

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Book Description :

The foundation for the subject of mathematical finance was laid nearly 100 years ago by Bachelier in his fundamental work, Theorie de la speculation. In this work, he provided the first treatment of Brownian motion. Since then, the research of Markowitz, and then of Black, Merton, Scholes, and Samuelson brought remarkable and important strides in the field. A few years later, Harrison and Kreps demonstrated the fundamental role of martingales and stochastic analysis in constructing and understanding models for financial markets. The connection opened the door for a flood of mathematical developments and growth. Concurrently with these mathematical advances, markets have grown, and developments in both academia and industry continue to expand. This lively activity inspired an AMS Short Course at the Joint Mathematics Meetings in San Diego (CA). The present volume includes the written results of that course. Articles are featured by an impressive list of recognized researchers and practitioners. Their contributions present deep results, pose challenging questions, and suggest directions for future research. This collection offers compelling introductory articles on this new, exciting, and rapidly growing field.

An Introduction to The Mathematics of Finance

An Introduction to The Mathematics of Finance Book
Author : A. H. Pollard
Publisher : Elsevier
Release : 2014-05-18
ISBN : 1483135853
Language : En, Es, Fr & De

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Book Description :

An Introduction to the Mathematics of Finance provides a simple, nonmathematical introduction to the mathematics of finance. Topics discussed in this book include simple interest; compound interest—annual compounding; annuities—certain; use of compound interest; and sinking funds. The equations of value; compounding more frequently than annually; and contracts at ""flat"" rates of interest are also deliberated. This text likewise elaborates on the loans repayable by equal annual installments when interest is charged only on the amount of principal from time to time outstanding. Exercises are provided at the end of each chapter, including its corresponding solutions. This publication provides a working knowledge of the mathematics of finance that is helpful to accountants, economists, investment officers, and demographers.

Mathematics for Finance

Mathematics for Finance Book
Author : Marek Capiński,Tomasz Zastawniak
Publisher : Springer
Release : 2011-04-08
ISBN : 9780857290830
Language : En, Es, Fr & De

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Book Description :

As with the first edition, Mathematics for Finance: An Introduction to Financial Engineering combines financial motivation with mathematical style. Assuming only basic knowledge of probability and calculus, it presents three major areas of mathematical finance, namely Option pricing based on the no-arbitrage principle in discrete and continuous time setting, Markowitz portfolio optimisation and Capital Asset Pricing Model, and basic stochastic interest rate models in discrete setting. From the reviews of the first edition: ”This text is an excellent introduction to Mathematical Finance. Armed with a knowledge of basic calculus and probability a student can use this book to learn about derivatives, interest rates and their term structure and portfolio management.”(Zentralblatt MATH) ”Given these basic tools, it is surprising how high a level of sophistication the authors achieve, covering such topics as arbitrage-free valuation, binomial trees, and risk-neutral valuation.” (www.riskbook.com) ”The reviewer can only congratulate the authors with successful completion of a difficult task of writing a useful textbook on a traditionally hard topic.” (K. Borovkov, The Australian Mathematical Society Gazette, Vol. 31 (4), 2004)

An Introduction to the Mathematics of Finance

An Introduction to the Mathematics of Finance Book
Author : J. McCutcheon
Publisher : Unknown
Release : 2003
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download An Introduction to the Mathematics of Finance book written by J. McCutcheon, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Introduction to Financial Mathematics

Introduction to Financial Mathematics Book
Author : Kevin J. Hastings
Publisher : CRC Press
Release : 2015-10-28
ISBN : 1498723918
Language : En, Es, Fr & De

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Book Description :

Introduction to Financial Mathematics is ideal for an introductory undergraduate course. Unlike most textbooks aimed at more advanced courses, the text motivates students through a discussion of personal finances and portfolio management. The author then goes on to cover valuation of financial derivatives in discrete time, using all of closed form, recursive, and simulation methods. The text covers nearly all of the syllabus topics of the Financial Mathematics Actuarial examination, providing students with the foundation they require for future studies and throughout their careers. It begins by covering standard material on the mathematics of interest, including compound interest, present value, annuities, loans, several versions of the rate of return on an investment, and interest in continuous time. The text explains how to value bonds at their issue dates, at coupon times, between coupon times, and in cases where the bonds are terminated early. Next, it supplies a rapid-fire overview of the main ideas and techniques of discrete probability, including sample spaces and probability measures, random variables and distributions, expectation, conditional probability, and independence. The author introduces the basic terminology of stocks and stock trading. He also explains how to derive the rate of return on a portfolio and how to use the idea of risk aversion to model the investor tradeoff between risk and return. The text also discusses the estimation of parameters of asset models from real data. The text closes with a detailed discussion of how to value financial derivatives using anti-arbitrage assumptions. The one-step and multi-step cases are covered, and exotic options such as barrier options are also introduced, to which simulation methods are applied. Many of the examples in the book involve numerical solution of complicated non-linear equations; others ask students to produce algorithms which beg to be implemented as programs. For maximum flexibility, the author has produced the text without adhering to any particular computational platform. A digital version of this text is also available in the form of Mathematica notebooks that contain additional content.

An Undergraduate Introduction to Financial Mathematics

An Undergraduate Introduction to Financial Mathematics Book
Author : J. Robert Buchanan
Publisher : World Scientific
Release : 2008
ISBN : 9812835350
Language : En, Es, Fr & De

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Book Description :

"This textbook provides an introduction to financial mathematics and financial engineering for undergraduate students who have completed a three or four semester sequence of calculus courses. It introduces the theory of interest, random variables and probability, stochastic processes, arbitrage, option pricing, hedging, and portfolio optimization. The student progresses from knowing only elementary calculus to understanding the derivation and solution of the Black-Scholes partial differential equation and its solutions. This is one of the few books on the subject of financial mathematics which is accessible to undergraduates having only a thorough grounding in elementary calculus. It explains the subject matter without 'hand waving' arguments and includes numerous examples. Every chapter concludes with a set of exercises which test the chapter's concepts and fill in details of derivations." -- Publisher's description.

An Introduction to Managerial Finance

An Introduction to Managerial Finance Book
Author : Harold Bierman,Jerome E. Hass
Publisher : W. W. Norton
Release : 1973
ISBN : 9780393093537
Language : En, Es, Fr & De

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Book Description :

Download An Introduction to Managerial Finance book written by Harold Bierman,Jerome E. Hass, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

An Introduction to the Mathematics of Financial Derivatives

An Introduction to the Mathematics of Financial Derivatives Book
Author : Ali Hirsa,Salih N. Neftci
Publisher : Academic Press
Release : 2013-12-18
ISBN : 0123846838
Language : En, Es, Fr & De

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Book Description :

An Introduction to the Mathematics of Financial Derivatives is a popular, intuitive text that eases the transition between basic summaries of financial engineering to more advanced treatments using stochastic calculus. Requiring only a basic knowledge of calculus and probability, it takes readers on a tour of advanced financial engineering. This classic title has been revised by Ali Hirsa, who accentuates its well-known strengths while introducing new subjects, updating others, and bringing new continuity to the whole. Popular with readers because it emphasizes intuition and common sense, An Introduction to the Mathematics of Financial Derivatives remains the only "introductory" text that can appeal to people outside the mathematics and physics communities as it explains the hows and whys of practical finance problems. Facilitates readers' understanding of underlying mathematical and theoretical models by presenting a mixture of theory and applications with hands-on learning Presented intuitively, breaking up complex mathematics concepts into easily understood notions Encourages use of discrete chapters as complementary readings on different topics, offering flexibility in learning and teaching

The Mathematics of Financial Derivatives

The Mathematics of Financial Derivatives Book
Author : Paul Wilmott,Susan Howson,Sam Howison,Wilmott-Howison-Dewynne ...,Jeff Dewynne
Publisher : Cambridge University Press
Release : 1995-09-29
ISBN : 9780521497893
Language : En, Es, Fr & De

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Book Description :

Basic option theory - Numerical methods - Further option theory - Interest rate derivative products.

An Introduction to Financial Mathematics

An Introduction to Financial Mathematics Book
Author : Hugo D. Junghenn
Publisher : CRC Press
Release : 2019-03-14
ISBN : 0429558961
Language : En, Es, Fr & De

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Book Description :

Introduction to Financial Mathematics: Option Valuation, Second Edition is a well-rounded primer to the mathematics and models used in the valuation of financial derivatives. The book consists of fifteen chapters, the first ten of which develop option valuation techniques in discrete time, the last five describing the theory in continuous time. The first half of the textbook develops basic finance and probability. The author then treats the binomial model as the primary example of discrete-time option valuation. The final part of the textbook examines the Black-Scholes model. The book is written to provide a straightforward account of the principles of option pricing and examines these principles in detail using standard discrete and stochastic calculus models. Additionally, the second edition has new exercises and examples, and includes many tables and graphs generated by over 30 MS Excel VBA modules available on the author’s webpage https://home.gwu.edu/~hdj/.