Esta serie de libros profundiza en los temas esenciales y las asignaturas optativas comunes que se encuentran en los programas de maestría de finanzas matemáticas y cuantitativas. Cada volumen está meticulosamente diseñado para ser autónomo, permitiendo el estudio individual, pero también está estrechamente coordinado con otros para un plan de estudios integral. Ofrece una exploración rigurosa de los métodos cuantitativos cruciales para navegar en los complejos mercados financieros. Este recurso es invaluable para estudiantes y profesionales que buscan dominar las herramientas analíticas de las finanzas modernas.
This brief but full introduction to basic stochastic processes contains key results that have become essential for finance practitioners and provides a solid grounding for understanding the Black-Scholes option pricing model. Students, practitioners and researchers will benefit from the authors' rigorous, but unfussy, approach to technical issues.
This book explains in simple settings the fundamental ideas of financial market modelling and derivative pricing, using the no-arbitrage principle. Relatively elementary mathematics leads to powerful notions and techniques - such as viability, completeness, self-financing and replicating strategies, arbitrage and equivalent martingale measures - which are directly applicable in practice. The general methods are applied in detail to pricing and hedging European and American options within the Cox-Ross-Rubinstein (CRR) binomial tree model. A simple approach to discrete interest rate models is included, which, though elementary, has some novel features. All proofs are written in a user-friendly manner, with each step carefully explained and following a natural flow of thought. In this way the student learns how to tackle new problems.