{"product_id":"risk-analysis-in-finance-and-alexander-melnikov-9781032391984","title":"Risk Analysis in Finance and Insurance","description":"\u003cp\u003eRisk Analysis in Finance and Insurance, Third Edition presents an accessible yet comprehensive introduction to the main concepts and methods that transform risk management into a quantitative science. Considering the interdisciplinary nature of risk analysis, the author discusses many important ideas from stochastic analysis, mathematical finance and actuarial science in a simplified manner. He explores the interconnections among these disciplines and encourages readers toward further study of the subject. This edition continues to study risks associated with financial and insurance contracts, using an approach that estimates the value of future payments based on current financial, insurance, and other information.\u003c\/p\u003e\u003cp\u003eFeatures of the third edition\u003c\/p\u003e\u003cul\u003e \u003cli\u003e12 chapters instead of 8 of the 2nd editions. Two new chapters on Wiener process as a base for financial market modeling. Option pricing in the Bachelier model, the model of Black and Scholes, the Gram-Charlier model. American options and their pricing in the Black-Scholes model\u003c\/li\u003e \u003cli\u003eSeveral new notions, topics and results that are not reflected yet in other textbooks, and even in monographs (Binomial model with constraints, detailed exposition of quantile hedging technique, Conditional Value at Risk, Range of Value at Risk, applications to equity-linked life insurance)\u003c\/li\u003e \u003cli\u003eCan be regarded as a self-contained issue of courses on Mathematical Finance, Actuarial Science and Risk Management\u003c\/li\u003e \u003cli\u003eReplete with new exercises, problems, hints and solutions\u003c\/li\u003e \u003c\/ul\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Alexander Melnikov\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1032391987\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781032391984\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e CRC Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 09\/04\/2025\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 362\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.16lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.21h x 6.14w x 0.78d","brand":"Alexander Melnikov","offers":[{"title":"Paperback","offer_id":47305073656063,"sku":"9781032391984","price":74.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_80ef7e8b-3a4b-4e0e-92f1-956e44d16257.jpg?v=1758829890","url":"https:\/\/www.whiterainbookhouse.com\/products\/risk-analysis-in-finance-and-alexander-melnikov-9781032391984","provider":"WR Book House","version":"1.0","type":"link"}