000			01918nmm a2200217Ia 4500
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020			_a9780511806636
082			_a332.63221 _bB335F
100			_aBaxter, M. _eAuthor _lEnglish _91928
245		0	_aFinancial Calculus _b: An Introduction to Derivative Pricing _c/ by M. Baxter and A. Rennie. _h[Electronic Resource]
260			_aCambridge _b: Cambridge University Press, _c1996
300			_ax, 233p.
520			_aThe rewards and dangers of speculating in the modern financial markets have come to the fore in recent times with the collapse of banks and bankruptcies of public corporations as a direct result of ill-judged investment. At the same time, individuals are paid huge sums to use their mathematical skills to make well-judged investment decisions. Here now is the first rigorous and accessible account of the mathematics behind the pricing, construction and hedging of derivative securities. Key concepts such as martingales, change of measure, and the Heath-Jarrow-Morton model are described with mathematical precision in a style tailored for market practitioners. Starting from discrete-time hedging on binary trees, continuous-time stock models (including Black-Scholes) are developed. Practicalities are stressed, including examples from stock, currency and interest rate markets, all accompanied by graphical illustrations with realistic data. A full glossary of probabilistic and financial terms is provided. This unique book will be an essential purchase for market practitioners, quantitative analysts, and derivatives traders.
650			_aEconomics _915748
650			_aFinance And Accountancy _915749
650			_aFinancial Calculus _915750
650			_aMathematical Finance _915751
700			_aRennie, A. _i[Author] _91933
856			_uhttps://doi.org/10.1017/CBO9780511806636 _qPDF _yClick to Access the Online Book
942			_cEBK _nYes
999			_c12265 _d12265