<p>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.</p>

Derivative Securities

Business & Money

Jarrow, Robert

Turnbull, Stuart

Finance

South-Western College Publishing

<p>Accessible and intuitive, DERIVATIVE SECURITIES offers advanced undergraduates, MBA students, and executives the theory and the practical tools needed to price and hedge derivatives in the professional marketplace. Written by two of the foremost experts in the world,it makes the theory and practice of pricing and hedging derivative securities accessible to mainstream students, in a simple and complete fashion, without "watering down" often deemed necessary.</p>

Economics

South-Western College Pub.

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