Download or read book Lean Trees a General Approach for Improving Performance of Lattice Models for Option Pricing written by Rainer Baule and published by . This book was released on 2004 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The well-known binomial and trinomial tree models for option pricing are examined from the point of view of numerical efficiency. Common lattices use a large part of time resources for calculations which are almost irrelevant for the solution. To avoid this waste of resources, the tree is reduced to a quot;leanquot; form which yields the same order of convergence, but with a reduction of numerical effort to O(n^(3/2) log n) (where n is the number of time steps). Two instances of this Lean Tree Model are presented: a binomial one for pricing American put options and a trinomial one with largest possible generality to be used for a wide class of derivatives. In numerical tests it is shown that the proposed method leads to a significant improvement in real calculation time without loss of accuracy.
Download or read book The Rate of Convergence of Binomial Lattice Models for Pricing Vanilla Options written by Mark S. Joshi and published by . This book was released on 2014 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Variations of the binomial tree model are reviewed and extensions to the two most efficient trees studied in a recent literature are proposed. Tian's modified tree is extended to a more general class of tree, and the third order tree is extended to the seventh order tree. Analysis of the error of American put pricing in the binomial tree model is presented and new trees that have superior performance in pricing in-the-money American puts are developed. To further improve numerical results, a scheme that incorporates different trees is suggested.
Download or read book Index to Theses with Abstracts Accepted for Higher Degrees by the Universities of Great Britain and Ireland and the Council for National Academic Awards written by and published by . This book was released on 2005 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book How I Became a Quant written by Richard R. Lindsey and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for How I Became a Quant "Led by two top-notch quants, Richard R. Lindsey and Barry Schachter, How I Became a Quant details the quirky world of quantitative analysis through stories told by some of today's most successful quants. For anyone who might have thought otherwise, there are engaging personalities behind all that number crunching!" --Ira Kawaller, Kawaller & Co. and the Kawaller Fund "A fun and fascinating read. This book tells the story of how academics, physicists, mathematicians, and other scientists became professional investors managing billions." --David A. Krell, President and CEO, International Securities Exchange "How I Became a Quant should be must reading for all students with a quantitative aptitude. It provides fascinating examples of the dynamic career opportunities potentially open to anyone with the skills and passion for quantitative analysis." --Roy D. Henriksson, Chief Investment Officer, Advanced Portfolio Management "Quants"--those who design and implement mathematical models for the pricing of derivatives, assessment of risk, or prediction of market movements--are the backbone of today's investment industry. As the greater volatility of current financial markets has driven investors to seek shelter from increasing uncertainty, the quant revolution has given people the opportunity to avoid unwanted financial risk by literally trading it away, or more specifically, paying someone else to take on the unwanted risk. How I Became a Quant reveals the faces behind the quant revolution, offering you?the?chance to learn firsthand what it's like to be a?quant today. In this fascinating collection of Wall Street war stories, more than two dozen quants detail their roots, roles, and contributions, explaining what they do and how they do it, as well as outlining the sometimes unexpected paths they have followed from the halls of academia to the front lines of an investment revolution.
Download or read book Fixed Income Modelling written by Claus Munk and published by Oxford University Press. This book was released on 2011-06-30 with total page 573 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large number of securities related to various interest rates are traded in financial markets. Traders and analysts in the financial industry apply models based on economics, mathematics and probability theory to compute reasonable prices and risk measures for these securities. This book offers a unified presentation of such models and securities.
Download or read book Cloud Data Centers and Cost Modeling written by Caesar Wu and published by Morgan Kaufmann. This book was released on 2015-02-27 with total page 848 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cloud Data Centers and Cost Modeling establishes a framework for strategic decision-makers to facilitate the development of cloud data centers. Just as building a house requires a clear understanding of the blueprints, architecture, and costs of the project; building a cloud-based data center requires similar knowledge. The authors take a theoretical and practical approach, starting with the key questions to help uncover needs and clarify project scope. They then demonstrate probability tools to test and support decisions, and provide processes that resolve key issues. After laying a foundation of cloud concepts and definitions, the book addresses data center creation, infrastructure development, cost modeling, and simulations in decision-making, each part building on the previous. In this way the authors bridge technology, management, and infrastructure as a service, in one complete guide to data centers that facilitates educated decision making. Explains how to balance cloud computing functionality with data center efficiency Covers key requirements for power management, cooling, server planning, virtualization, and storage management Describes advanced methods for modeling cloud computing cost including Real Option Theory and Monte Carlo Simulations Blends theoretical and practical discussions with insights for developers, consultants, and analysts considering data center development
Download or read book Programming Massively Parallel Processors written by David B. Kirk and published by Newnes. This book was released on 2012-12-31 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Programming Massively Parallel Processors: A Hands-on Approach, Second Edition, teaches students how to program massively parallel processors. It offers a detailed discussion of various techniques for constructing parallel programs. Case studies are used to demonstrate the development process, which begins with computational thinking and ends with effective and efficient parallel programs. This guide shows both student and professional alike the basic concepts of parallel programming and GPU architecture. Topics of performance, floating-point format, parallel patterns, and dynamic parallelism are covered in depth. This revised edition contains more parallel programming examples, commonly-used libraries such as Thrust, and explanations of the latest tools. It also provides new coverage of CUDA 5.0, improved performance, enhanced development tools, increased hardware support, and more; increased coverage of related technology, OpenCL and new material on algorithm patterns, GPU clusters, host programming, and data parallelism; and two new case studies (on MRI reconstruction and molecular visualization) that explore the latest applications of CUDA and GPUs for scientific research and high-performance computing. This book should be a valuable resource for advanced students, software engineers, programmers, and hardware engineers. New coverage of CUDA 5.0, improved performance, enhanced development tools, increased hardware support, and more Increased coverage of related technology, OpenCL and new material on algorithm patterns, GPU clusters, host programming, and data parallelism Two new case studies (on MRI reconstruction and molecular visualization) explore the latest applications of CUDA and GPUs for scientific research and high-performance computing
Download or read book The Entrepreneur s Roadmap written by New York Stock Exchange and published by . This book was released on 2017-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneur's guide for starting and growing a business to a public listing
Download or read book The Great Mental Models Volume 1 written by Shane Parrish and published by Penguin. This book was released on 2024-10-15 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover the essential thinking tools you’ve been missing with The Great Mental Models series by Shane Parrish, New York Times bestselling author and the mind behind the acclaimed Farnam Street blog and “The Knowledge Project” podcast. This first book in the series is your guide to learning the crucial thinking tools nobody ever taught you. Time and time again, great thinkers such as Charlie Munger and Warren Buffett have credited their success to mental models–representations of how something works that can scale onto other fields. Mastering a small number of mental models enables you to rapidly grasp new information, identify patterns others miss, and avoid the common mistakes that hold people back. The Great Mental Models: Volume 1, General Thinking Concepts shows you how making a few tiny changes in the way you think can deliver big results. Drawing on examples from history, business, art, and science, this book details nine of the most versatile, all-purpose mental models you can use right away to improve your decision making and productivity. This book will teach you how to: Avoid blind spots when looking at problems. Find non-obvious solutions. Anticipate and achieve desired outcomes. Play to your strengths, avoid your weaknesses, … and more. The Great Mental Models series demystifies once elusive concepts and illuminates rich knowledge that traditional education overlooks. This series is the most comprehensive and accessible guide on using mental models to better understand our world, solve problems, and gain an advantage.
Download or read book Commodity Option Pricing written by Iain J. Clark and published by John Wiley & Sons. This book was released on 2014-03-05 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity Option Pricing: A Practitioner’s Guide covers commodity option pricing for quantitative analysts, traders or structurers in banks, hedge funds and commodity trading companies. Based on the author’s industry experience with commodity derivatives, this book provides a thorough and mathematical introduction to the various market conventions and models used in commodity option pricing. It introduces the various derivative products typically traded for commodities and describes how these models can be calibrated and used for pricing and risk management. This book has been developed with input from traders and features examples using real-world data, together with relevant up-to-date academic research. This book includes practical descriptions of market conventions and quote codes used in commodity markets alongside typical products seen in broker quotes and used in calibration. Also discussed are commodity models and their mathematical derivation and volatility surface modelling for traded commodity derivatives. Gold, silver and other precious metals are addressed, including gold forward and gold lease rates, as well as copper, aluminium and other base metals, crude oil and natural gas, refined energy and electricity. There are also sections on the products encountered in commodities such as crack spread and spark spread options and alternative commodities such as carbon emissions, weather derivatives, bandwidth and telecommunications trading, plastics and freight. Commodity Option Pricing is ideal for anyone working in commodities or aiming to make the transition into the area, as well as academics needing to familiarize themselves with the industry conventions of the commodity markets.
Download or read book The Lean Six Sigma Black Belt Handbook written by Frank Voehl and published by CRC Press. This book was released on 2013-07-09 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Lean and Six Sigma appear to be quite different, when used together they have shown to deliver unprecedented improvements to quality and profitability. The Lean Six Sigma Black Belt Handbook: Tools and Methods for Process Acceleration explains how to integrate these seemingly dissimilar approaches to increase production speed while decreasing variations and costs in your organization. Presenting problem-solving tools you can use to immediately determine the sources of the problems in your organization, the book is based on a recent survey that analyzed Six Sigma tools to determine which are the most beneficial. Although it focuses on the most commonly used tools, it also includes coverage of those used a minimum of two times on every five Six Sigma projects. Filled with diagrams of the tools you’ll need, the book supplies a comprehensive framework to help you for organize and process the vast amount of information currently available about Lean, quality management, and continuous improvement process applications. It begins with an overview of Six Sigma, followed by little-known tips for using Lean Six Sigma (LSS) effectively. It examines the LSS quality system, its supporting organization, and the different roles involved. Identifying the theories required to support a contemporary Lean system, the book describes the new skills and technologies that you need to master to be certified at the Lean Six Sigma Black Belt (LSSBB) level. It also covers the advanced non-statistical and statistical tools that are new to the LSSBB body of knowledge. Presenting time-tested insights of a distinguished group of authors, the book provides the understanding required to select the solutions that best fit your organization's aim and culture. It also includes exercises, worksheets, and templates you can easily customize to create your own handbook for continuous process improvement. Designed to make the methodologies you choose easy to follow, the book will help Black Belts and Senseis better engage their employees, as well as provide an integrated and visual process management structure for reporting and sustaining continuous improvement breakthroughs and initiatives.
Download or read book Cognitive Biases in Visualizations written by Geoffrey Ellis and published by Springer. This book was released on 2018-09-27 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together the latest research in this new and exciting area of visualization, looking at classifying and modelling cognitive biases, together with user studies which reveal their undesirable impact on human judgement, and demonstrating how visual analytic techniques can provide effective support for mitigating key biases. A comprehensive coverage of this very relevant topic is provided though this collection of extended papers from the successful DECISIVe workshop at IEEE VIS, together with an introduction to cognitive biases and an invited chapter from a leading expert in intelligence analysis. Cognitive Biases in Visualizations will be of interest to a wide audience from those studying cognitive biases to visualization designers and practitioners. It offers a choice of research frameworks, help with the design of user studies, and proposals for the effective measurement of biases. The impact of human visualization literacy, competence and human cognition on cognitive biases are also examined, as well as the notion of system-induced biases. The well referenced chapters provide an excellent starting point for gaining an awareness of the detrimental effect that some cognitive biases can have on users’ decision-making. Human behavior is complex and we are only just starting to unravel the processes involved and investigate ways in which the computer can assist, however the final section supports the prospect that visual analytics, in particular, can counter some of the more common cognitive errors, which have been proven to be so costly.
Download or read book Building Adaptation written by James Douglas and published by Routledge. This book was released on 2006-08-11 with total page 680 pages. Available in PDF, EPUB and Kindle. Book excerpt: As existing buildings age, nearly half of all construction activity in Britain is related to maintenance, refurbishment and conversions. Building adaptation is an activity that continues to make a significant contribution to the workload of the construction industry. Given its importance to sustainable construction, the proportion of adaptation works in relation to new build is likely to remain substantial for the foreseeable future, especially in the developed parts of the world. Building Adaptation, Second Edition is intended as a primer on the physical changes that can affect older properties. It demonstrates the general principles, techniques, and processes needed when existing buildings must undergo alteration, conversion, extension, improvement, or refurbishment. The publication of the first edition of Building Adaptation reflected the upsurge in refurbishment work. The book quickly established itself as one of the core texts for building surveying students and others on undergraduate and postgraduate built environment courses. This new edition continues to provide a comprehensive introduction to all the key issues relating to the adaptation of buildings. It deals with any work to a building over and above maintenance to change its capacity, function or performance.
Download or read book Introduction to Evolutionary Computing written by Agoston E. Eiben and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first complete overview of evolutionary computing, the collective name for a range of problem-solving techniques based on principles of biological evolution, such as natural selection and genetic inheritance. The text is aimed directly at lecturers and graduate and undergraduate students. It is also meant for those who wish to apply evolutionary computing to a particular problem or within a given application area. The book contains quick-reference information on the current state-of-the-art in a wide range of related topics, so it is of interest not just to evolutionary computing specialists but to researchers working in other fields.
Download or read book Oil and Gas Production Handbook An Introduction to Oil and Gas Production written by Havard Devold and published by Lulu.com. This book was released on 2013 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Lifelines written by Stephane Hallegatte and published by World Bank Publications. This book was released on 2019-07-16 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Infrastructure—electricity, telecommunications, roads, water, and sanitation—are central to people’s lives. Without it, they cannot make a living, stay healthy, and maintain a good quality of life. Access to basic infrastructure is also a key driver of economic development. This report lays out a framework for understanding infrastructure resilience - the ability of infrastructure systems to function and meet users’ needs during and after a natural hazard. It focuses on four infrastructure systems that are essential to economic activity and people’s well-being: power systems, including the generation, transmission, and distribution of electricity; water and sanitation—especially water utilities; transport systems—multiple modes such as road, rail, waterway, and airports, and multiple scales, including urban transit and rural access; and telecommunications, including telephone and Internet connections.
Download or read book Knowledge Solutions written by Olivier Serrat and published by Springer. This book was released on 2017-05-22 with total page 1098 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY-NC 3.0 IGO license. This book comprehensively covers topics in knowledge management and competence in strategy development, management techniques, collaboration mechanisms, knowledge sharing and learning, as well as knowledge capture and storage. Presented in accessible “chunks,” it includes more than 120 topics that are essential to high-performance organizations. The extensive use of quotes by respected experts juxtaposed with relevant research to counterpoint or lend weight to key concepts; “cheat sheets” that simplify access and reference to individual articles; as well as the grouping of many of these topics under recurrent themes make this book unique. In addition, it provides scalable tried-and-tested tools, method and approaches for improved organizational effectiveness. The research included is particularly useful to knowledge workers engaged in executive leadership; research, analysis and advice; and corporate management and administration. It is a valuable resource for those working in the public, private and third sectors, both in industrialized and developing countries.
