{"product_id":"stochastic-financial-models-douglas-kennedy-9781420093452","title":"Stochastic Financial Models","description":"\u003cp\u003eFilling the void between surveys of the field with relatively light mathematical content and books with a rigorous, formal approach to stochastic integration and probabilistic ideas, \u003cstrong\u003e Stochastic Financial Models\u003c\/strong\u003e provides a sound introduction to mathematical finance. The author takes a classical applied mathematical approach, focusing on calculations rather than seeking the greatest generality.\u003c\/p\u003e\u003cp\u003eDeveloped from the esteemed author's advanced undergraduate and graduate courses at the University of Cambridge, the text begins with the classical topics of utility and the mean-variance approach to portfolio choice. The remainder of the book deals with derivative pricing. The author fully explains the binomial model since it is central to understanding the pricing of derivatives by self-financing hedging portfolios. He then discusses the general discrete-time model, Brownian motion and the Black-Scholes model. The book concludes with a look at various interest-rate models. Concepts from measure-theoretic probability and solutions to the end-of-chapter exercises are provided in the appendices.\u003c\/p\u003e\u003cp\u003eBy exploring the important and exciting application area of mathematical finance, this text encourages students to learn more about probability, martingales and stochastic integration. It shows how mathematical concepts, such as the Black-Scholes and Gaussian random-field models, are used in financial situations. \u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Douglas Kennedy\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1420093452\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781420093452\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e CRC Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/01\/2010\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 272\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.20lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.20w x 0.80d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 08\/01\/2010\u003cbr\u003e\u003ci\u003eReference and Research Bk News\u003c\/i\u003e 05\/01\/2010 pg. 130","brand":"Douglas Kennedy","offers":[{"title":"Hardcover","offer_id":48112774250751,"sku":"9781420093452","price":120.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_71b291e7-cd8d-416a-b4e3-0db7067df089.jpg?v=1769610846","url":"https:\/\/www.whiterainbookhouse.com\/products\/stochastic-financial-models-douglas-kennedy-9781420093452","provider":"WR Book House","version":"1.0","type":"link"}