Pricing Financial Instruments: The Finite Difference Method (Wiley Series in Financial Engineering)
Language: English
Published by Wiley, 2000
- Hardcover
- Used
Seller: Phatpocket Limited, Waltham Abbey, HERTS, United KingdomPhatpocket Limited
AbeBooks seller since April 28, 2005
Condition: Used - Good
£ 3.25
Quantity: 2 available
Add to basketItem description from seller
Your purchase helps support Sri Lankan Children's Charity 'The Rainbow Centre'. Ex-library, so some stamps and wear, but in good overall condition. Our donations to The Rainbow Centre have helped provide an education and a safe haven to hundreds of children who live in appalling conditions.
Seller Inventory # Z1-V-001-02003
- Title
- Pricing Financial Instruments: The Finite Difference Method (Wiley Series in Financial Engineering)
- Author
- Tavella, Domingo
- Publisher
- Wiley
- Publication year
- 2000
- Condition
- Good
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 0471197602
- ISBN 13
- 9780471197607
Pricing Financial Instruments, researched and written by Domingo Tavella and Curt Randall, two of the chief proponents of the finite difference method, presents a logical framework for applying the method of finite difference to the pricing of financial derivatives. Detailing the algorithmic and numerical procedures that are the foundation of both modern mathematical finance and the creation of financial products-while purposely keeping mathematical complexity to a minimum-this long-awaited book demonstrates how the techniques described can be used to accurately price simple and complex derivative structures.
From a summary of stochastic pricing processes and arbitrage pricing arguments, through the analysis of numerical schemes and the implications of discretization-and ending with case studies that are simple yet detailed enough to demonstrate the capabilities of the methodology- Pricing Financial Instruments explores areas that include:
* Pricing equations and the relationship be-tween European and American derivatives
* Detailed analyses of different stability analysis approaches
* Continuous and discrete sampling models for path dependent options
* One-dimensional and multi-dimensional coordinate transformations
* Numerical examples of barrier options, Asian options, forward swaps, and more
With an emphasis on how numerical solutions work and how the approximations involved affect the accuracy of the solutions, Pricing Financial Instruments takes us through doors opened wide by Black, Scholes, and Merton-and the arbitrage pricing principles they introduced in the early 1970s-to provide a step-by-step outline for sensibly interpreting the output of standard numerical schemes. It covers the understanding and application of today's finite difference method, and takes the reader to the next level of pricing financial instruments and managing financial risk.
Praise for Pricing Financial Instruments
"Pricing Financial Instruments is the first broad and accessible treatment of finite difference methods for pricing derivative securities. The authors have taken great care to clearly explain both the origins of the pricing problems in a financial setting, as well as many practical aspects of their numerical methods. The book covers a wide variety of applications, such as American options and credit derivatives. Both financial analysts and academic asset-pricing specialists will want to own a copy."-Darrell Duffie, Professor of Finance Stanford University
"In my experience, finite difference methods have proven to be a simple yet powerful tool for numerically solving the evolutionary PDEs that arise in modern mathematical finance. This book should finally dispel the widely held notion that these methods are somehow difficult or abstract. I highly recommend it to anyone interested in the implementation of these methods in the financial arena."-Peter Carr, Principal Bank of America Securities
"A very comprehensive treatment of the application of finite difference techniques to derivatives finance. Practitioners will find the many extensive examples very valuable and students will appreciate the rigorous attention paid to the many subtleties of finite difference techniques."-Francis Longstaff, Professor The Anderson School at UCLA
"The finite difference approach is central to the numerical pricing of financial securities. This book gives a clear and succinct introduction to this important subject. Highly recommended."-Mark Broadie, Associate Professor School of Business, Columbia University
For updates on new and bestselling Wiley Finance books: wiley.com/wbns
"Synopsis" may belong to another edition of this title.
About the Author
CURT RANDALL, Ph.D.,is a Principal and Vice President of Applications at SciComp Inc., a leading developer of software synthesis technology for the finance industry. He has extensive experience in the application of finite difference methods to a variety of disciplines. Prior to joining SciComp, Dr. Randall developed computational methods for advanced simulations at Schlumberger Corporation. Before that, he was a research scientist at Lawrence Livermore National Laboratory.
"About the title" may belong to another edition of this title.
Phatpocket Limited
Waltham Abbey, HERTS, United Kingdom
AbeBooks seller since April 28, 2005
Shipping rates from United Kingdom to U.S.A.
| Item | 5 to 19 business days | 1 to 3 business days |
|---|---|---|
| First item | £ 10.64 | £ 26.98 |
Payment methods
Store description
Phatpocket Limited is a world class secondhand bookstore located in the Hertfordshire countryside in the United Kingdom. We specialize in textbooks across an enormous variety of subjects. We aim to provide a low cost source of high quality textbooks to the academic community. We also have a sizable collection of rare and collectible books. We are dedicated to providing our customers with the highest standard of customer service in the bookselling business.Phatpocket Limited is registered in England and Wales: No. 04924751.…
Specialty
Used books, Used textbooksSeller's business information
Phatpocket Limited
67 Newland Street
Witham, United Kingdom CM8 1AA
Terms of sale
Books are usually shipped within two working days. All of our books have a 14 or 30 day no hassle money back guarantee unless stated otherwise in the book's description. Item must be returned in the exact same condition that it was received. Through our work with The Rainbow Centre and other Charity Partners, we have already given hundreds of young people in Sri Lanka and Africa the vital chance to get an education.
Your satisfaction is extremely important to us and we would be happy to work with you to try and resolve any issues with your order. Please contact us via the Abe messaging centre regarding any problems and we will respond asap.
Please kindly send any return requests or reports of defects, damage, or material differences within 7 days of receipt of your order or 30 days from the date of shipment.
If you are making a return we will need to receive the item within 30 days from the date of shipment for UK orders or 90 days from the date of shipment for international orders. Similarly, we require that non-deliveries be reported within 30 days from the date of shipment for UK orders or 90 days from the date of shipment for international orders.
If your parcel is returned by the postal service due to being unclaimed, refused, or having an undeliverable or insufficient address, we will contact you to try and resolve the issue. If this is not possible, or if we do not hear back, we will refund you the cost of your order minus the original postage paid.
Right of withdrawal
If you are a consumer you can withdraw from the contract in accordance with the following. Consumer means any natural person who is acting for purposes which are outside his trade, business, craft or profession.
Information regarding the right of withdrawal
Statutory right to withdraw
You have the right to withdraw from this contract within 14 days without giving any reason.
The withdrawal period will expire after 14 days from the day on which you acquire, or a third party other than the carrier and indicated by you acquires, physical possession of the last good or the last lot or piece.
To exercise the right of withdrawal, electronically fill in and submit a clear statement on our website, under "My Purchases" in "My Account". We will communicate to you an acknowledgement of receipt of such a withdrawal on a durable medium (e.g. by e-mail) without delay.
To meet the withdrawal deadline, it is sufficient for you to send your communication concerning your exercise of the right of withdrawal before the withdrawal period has expired.
Effects of withdrawal
If you withdraw from this contract, we will reimburse to you all payments received from you, including the costs of delivery (except for the supplementary costs arising if you chose a type of delivery other than the least expensive type of standard delivery offered by us).
We may make a deduction from the reimbursement for loss in value of any goods supplied, if the loss is the result of unnecessary handling by you.
We will make the reimbursement without undue delay, and not later than 14 days after the day on which we are informed about your decision to withdraw from this contract.
We will make the reimbursement using the same means of payment as you used for the initial transaction, unless you have expressly agreed otherwise; in any event, you will not incur any fees as a result of such reimbursement.
We may withhold reimbursement until we have received the goods back, or you have supplied evidence of having sent back the goods, whichever is the earliest.
You shall send back the goods or hand them over to Phatpocket Limited, Waltham Abbey, ESSEX, United Kingdom, without undue delay and in any event not later than 14 days from the day on which you communicate your withdrawal from this contract to us. The deadline is met if you send back the goods before the period of 14 days has expired. You will have to bear the direct cost of returning the goods. You are only liable for any diminished value of the goods resulting from the handling other than what is necessary to establish the nature, characteristics and functioning of the goods.
Exceptions to the right of withdrawal
The right of withdrawal does not apply to:
- The delivery of newspapers, journals or magazines with the exception of subscription contracts; and
- The supply of digital content which is not supplied on a tangible medium (e.g. on a CD or DVD) if you accepted when you placed your order that we could start to deliver it, and that you could not withdraw once delivery had started.
Shipping terms
Orders usually ship within 2 business days. Shipping costs are based on books weighing 2.2 LB, or 1 KG. If your book order is heavy or oversized, we may contact you to let you know extra shipping is required.
In spite of our best efforts, a small number of the items in our catalogue may be mispriced or out of stock. If an item's correct price is higher than our stated price, we will, at our discretion, either contact you for instructions before shipping or cancel your order and notify you of such cancellation.