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Title:

Model risk and uncertainty – Illustrated with examples from mathematical finance

Document type:
Buchbeitrag
Author(s):
Bannör, K. F.; Scherer, M.
Cooperation:
-
Pages contribution:
-
Abstract:
Stochastic modeling techniques have become increasingly popular during the last decades, particularly in mathematical finance since the groundbreaking work of Bachelier [16], Samuelson [44], and Black and Scholes [3]. Essentially, all models are wrong in the sense that they simplify reality. However, there are numerous models available to model particular phenomena of financial markets and calculated option prices, hedging strategies, portfolio allocations, etc. depend on the chosen model. This...     »
Editor:
C. Klüppelberg, D. Straub, and L. Welpe
Book title:
Risk - A Multidisciplinary Introduction
Intellectual Contribution:
Learning and Pedagogical Research
Publisher:
Springer
Year:
2014
Reviewed:
ja
Language:
en
TUM Institution:
Lehrstuhl für Finanzmathematik
Format:
Text
Key publication:
Ja
Peer reviewed:
ja
International:
Ja
Book review:
Nein
Commissioned:
not commissioned
Category:
textbook
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