Accessible and intuitive, Derivative Securities offers the practical tools needed to price and hedge derivatives in the professional marketplace. Written by two of the foremost derivative pricing experts in the world, this book makes the theory and practice of pricing and hedging derivative securities accessible without the "watering down" of the material often deemed necessary. Although two modeling paradigms are explored - the discrete time binomial practice model and the continuous time models of Black-Scholes and Heath-Jarrow-Morton - all relevant concepts are introduced using the discrete time model. Examples and problems are tied to the software, a fully functional option pricing calculator based on a commercial software package developed by the authors.
- ISBN10 0538862718
- ISBN13 9780538862714
- Publish Date 29 March 1996
- Publish Status Out of Print
- Out of Print 12 December 2013
- Publish Country US
- Publisher Cengage Learning, Inc
- Imprint South-Western
- Pages 697
- Language English