{"product_id":"nonlinear-valuation-and-non-gaussian-risks-dilip-b-madan-9781316518090","title":"Nonlinear Valuation and Non-Gaussian Risks in Finance","description":"What happens to risk as the economic horizon goes to zero and risk is seen as an exposure to a change in state that may occur instantaneously at any time? All activities that have been undertaken statically at a fixed finite horizon can now be reconsidered dynamically at a zero time horizon, with arrival rates at the core of the modeling. This book, aimed at practitioners and researchers in financial risk, delivers the theoretical framework and various applications of the newly established dynamic conic finance theory. The result is a nonlinear non-Gaussian valuation framework for risk management in finance. Risk-free assets disappear and low risk portfolios must pay for their risk reduction with negative expected returns. Hedges may be constructed to enhance value by exploiting risk interactions. Dynamic trading mechanisms are synthesized by machine learning algorithms. Optimal exposures are designed for option positioning simultaneously across all strikes and maturities.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Dilip B. Madan, Wim Schoutens\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1316518094\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781316518090\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Cambridge University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/12\/2022\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 281\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.44lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.61h x 6.69w x 0.69d","brand":"Dilip B. Madan","offers":[{"title":"Hardcover","offer_id":43990591602943,"sku":"9781316518090","price":131.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_8654f69a-9b81-4166-b971-601a0cf00db0.jpg?v=1683305552","url":"https:\/\/www.whiterainbookhouse.com\/products\/nonlinear-valuation-and-non-gaussian-risks-dilip-b-madan-9781316518090","provider":"WR Book House","version":"1.0","type":"link"}