Modeling Financial Derivatives With Mathematica (Includes CD-ROM)

Book Description

One of the most important tasks in finance is to find good mathematical models for financial products, in particular derivatives. However, the more realistic the model, the more practitioners face still-unsolved problems in rigorous mathematics and econometrics, in addition to serious numerical difficulties. The idea behind this book is to use Mathematica® to provide a wide range of exact benchmark models against which inexact models can be tested and verified. In so doing, the author is able to explain when models and numerical schemes can be relied on, and when they can't. Benchmarking is also applied to Monte Carlo simulations. Mathematica's graphical and animation capabilities are exploited to show how a model's characteristics can be visualized in two and three dimensions. The models described are all available on an accompanying CD that runs on most Windows, Unix and Macintosh platforms; to be able fully to use the software, Mathematica 3 is required, although certain features are usable with Mathematica 2.2. This product will prove of inestimable worth for financial instrument valuation and hedging, checking existing models and for analyzing derivatives; it can be used for professional or training purposes in financial institutions or universities, and in MBA courses.

Customer Reviews:

Excellent Practical Tool for Financial Engineers.......2002-06-07

I found William Shaw's book fascinating when I first bought it back in 1999 and have recently gone back to it for some further insight on some complex problems in finance.
It is a well-structured book that requires a basic understanding of both quantitative finance and Mathematica before you can really get to grips with it BUT having said that the complexity that the author gets to is excellent.
I would recommend this book to anyone in University studying for a Quant-rlated finance Masters or PhD - and anyone practicing in the real world - this should be on your shelf alongisde your copy of Mathematica.

A potentially very good book with a very messy presentation........2001-08-13

My comments are confined to the chapters on trees and finite difference methods, because that was my primary interest in buying the book. I'll say one positive thing about this book -- it does touch on many pitfalls of pricing derivatives with numerical methods such as finite differences and trees.

However my chief complaint is with the way the (very interesting and important) contect is presented -- Shaw simply contents himself with showing pages and pages of mathematica code, which is ugly and annoying to read. He doesn't even use indentations or keyword-highlighting to make the Mathematica code easier to read. What an unbelievable four-letter-word mess! Many mathematical concepts are buried within Mathematica code. A much better book would have resulted if he sat down and presented math as math rather than as Mathematica code. Very disappointing work from a writer who clearly seems to have an in-depth knowledge of finite difference methods.

Highly recommended for researchers in finance.......2001-07-14

It is highly recommended for its broad base of knowledge. People who want to do research in the field of finance must be equipped with this book.

Splendid.......2001-05-01

This is fascinating work, probably Shaw'a best. A real page turner, it keeps a reader glued until the last page. I must reccomend this book very highly, whether you are a serious student of finance or not.

Further author comments on reader comments.......2001-02-21

Some recent comments seem to require response.

1. The Parkville, Aus reader seems to be confused about the use of Monte Carlo simulation. The MC methods use LOG-normal methods, not Normal. Note that one can use several methods for simulating paths of asset prices. I have highlighted 3 approaches (i) fine clockwork paths, (ii) coarse clockwork paths, (iii) "events" or arbitrary time intervals (pp 407-411). Choice (i) should NOT be used for large time intervals or large volatility, as method (i) is based on the differential, and hence, for finite time intervals, approximate, form of the random walk, whereas (ii) and (iii) use the accurate integrated form, and will never give negative asset prices. In fact the book is generally rather clear on the need to avoid negative asset prices, and, in the case of tree models, carefully avoids either negative asset prices or probabilities, unlike most other texts!

2. MrBoonstra made an interesting comment about Mathematica vs C++ vs Java. I think many organizations waste a fortune replicating basic Mathematica functions in C++ or Java, either with expensive libraries, or worse still, re-writing them themselves only to see the programmers who wrote them move on! If you need to distribute these models the answer is to use a server with a number of Excel-linked clients, or nowadays, JLink - the Java link kit.

Book Description

Whether they've got increased responsibilities, new colleagues, or a brand new job, managers and specialists are bound to face unfamiliar situations. Although most smart professionals eventually adapt to new circumstances on their own, the truly savvy ones know the value of -- street smarts: the ability to assess environments quickly and make adjustments -- both subtle and radical -- on the fly. This timely book is a must read for professionals who want a portable skill set they can use in any situation and within any organization. With frank insights on the realities of professional interaction, the book helps readers to:

* Work in unfamiliar situations with an inquiring and strategic mindset. * Use universal skills across industries, work sectors, and cultures. * Influence organizational outcomes and change the status quo.

Plus, the mini-cases, tools, and challenging exercises will help professionals get in shape for the actual games of organizational life.

Customer Reviews:

Valuable Street Smarts for Organization Men...and Women.......2002-04-29

The expression "street smarts" describes the "feel," the savvyness, the sensitivity, and the skills to survive in the fast-moving, rough-and-tumble world of the streets. Business, personal-it doesn't matter. You have it or you don't. And if you have it, your chances of being on top are consistently better than if you fall haplessly into the category of the clueless.

An amazing number of people show up for work each day, go through the motions, do what they think is right, and go home. They simply "attend" work. Then there are those who mysteriously "get it" and move through the bureaucratic maze like a knife through butter. They seem to have something special, something that sets them apart. Out in the real world, we'd call it "street smarts." In the closed world of the workplace, it's "organization smarts." Got it? If not, read this book.

David Brown has been there, done that, and probably still wears the tee shirt-but it won't show where you can see it. He's moved from job to job in the fast moving worlds of corporations, politics, government (Deputy Mayor of New York), and higher education. If you wanted to find a mentor, a coach, to draw from, here he is. So, curl up at his feet and learn the secrets to success in the organizational environment.

Five chapters. Organized, tight, together. Not complicated. Chapter 1 takes us right into Understanding the "Real" Organization. Moving from sources of information (official and unofficial), Brown dives right into the culture, the customs, and the power. Now that we know the territory, Brown shifts to us: Establishing a Credible Reputation. Learn about things you should know-like first impressions, who you're seen with, and living your reputation so you're real. Chapter Three delves into Understanding What Others Want, a powerful concept in organizational success. Meetings, negotiations, commitment from others.

Chapter 4 addresses an interesting aspect of organizational maneuvering: working with experts. Brown emphasizes the importance of learning from experts, gaining and building on knowledge and skills from all sources. Chapter 5 explores the most difficult application of organizational smarts: changing the status quo. Changes often have to be made to move an organization ahead. Identifying needs for change and engaging in the conversations and tasks to accomplish those changes in ways that everyone is happy can put you in an influential position in an organization.

This book is recommended for college graduates entering the real world of work, for people who have been "floating" in organizations without realizing their potential, and for up and coming leaders who want to "up-and-come" faster and more effectively.

Modelling of agricultural production: Weather, soils, and crops (Simulation monographs)
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Modelling of agricultural production: Weather, soils, and crops (Simulation monographs)

Manufacturer: Pudoc
ProductGroup: Book
Binding: Unknown Binding

General | Agricultural Sciences | Science | Subjects | Books
General | Agricultural Sciences | Professional Science | Professional & Technical | Subjects | Books
ASIN: 9022008584

Book Description

The Yucatn Peninsula is today divided among Belize, Guatemala, and Mexico. Travelers to this region discover both astonishing archaeological sites and a stunning array of wildlife, including crocodiles, turtles, lizards, snakes, frogs, toads, and salamanders. This book--written by the world's leading authority on the herpetology of the lowland Maya area--is the only comprehensive field guide to all the species of amphibians and reptiles found there.

This field guide allows identification of all native and introduced species of amphibians and reptiles of the region.

features nearly 180 color photographs and 180 drawings.

offers valuable techniques for field identification, and a glossary of herpetological terms.

provides in each species account: description, natural history, similar species, and geographic distribution (complete with maps of each animal's range).

includes suggested readings for those who want to know more about a particular species.

illustrates all tadpoles.

describes the most characteristic vocalizations of the reptiles and amphibians in the volume.

introduces the physical geography, climate, and vegetation of the region, with emphasis on the habitats of amphibians and reptiles.

Customer Reviews:

Excellent field guide.......2001-08-28

This book is perfect for anyone interested in herps in the Maya Forest. Complementary to Campbell's field guide, but also includes great line drawings, range maps, and characteristics to distinguish from similar species. Also, better photos than in Campbell's guide. If I were to buy one field guide for the area, I'd choose this over Campbell's.

An exceptionally well laid out field guide.......2001-02-09

A Field Guide To The Amphibians And Reptiles Of The Maya World is a comprehensive survey of the crocodiles, turtles, lizards, snakes, frogs, toads, and salamanders found in Belize, Guatemala, and Mexico. This exceptionally well laid out field guide allows the easy identification of all native and introduced species of amphibians and reptiles of the region; is enhanced with 180 color photographs and 180 drawings; provides valuable techniques for field identification; includes a glossary of herpetological terms; and for each species gives a full description, natural history, and geographic distribution information (complete with maps). There are suggested readings for those who want to know more about a particular species, even descriptions of the most characteristic vocalizations of the reptiles and amphibians surveyed. A Field Guide To The Amphibians And Reptiles Of The Maya World is a "must" for any personal, professional, or academic library collection of natural history and herpetology reference works.

Amphibians and Reptiles of the Maya world.......2000-08-23

Julian C. Lee's field guide of the amphibians and reptiles of the Maya world is excellent. The color photographs make it easy to identify the animal in question; the maps give the reader the distribution of the form; the text gives a short synopsis of the characters and natural history of the taxon; the photos, line drawings, and the PRICE make it all worth while. Any person visiting the outback of the Yucatan Peninsula needs a copy of this book. All Nature Touring Companies should have it available for their clients. A wonderful addition for any professional herpetologist bookshelf.

Average customer rating:

A Field Guide to the Snakes of Belize

Manufacturer: Belize Zoo & Tropical Education Center
ProductGroup: Book
Binding: Paperback
ASIN: B000BYAO88

Product Description

An introduction to the snakes of the Central American country of Belize featuring short individual accounts combined with photographs for 48 of the mostly commonly encountered species. The species accounts provide the scientific and, where available, the common name of each form, along with information on their description, habitat, and natural history. Also included is a complete list of all the species known to occur in Belize, as well as a brief review of the various habitat types of the country. Illustrated with 61 color photos, 3 color text figures, and 3 color maps.

A Guide to the Reptiles of Belize (Natural World)

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A Guide to the Reptiles of Belize (Natural World)
Peter J. Stafford , and John R. Meyer
Manufacturer: Academic Press
ProductGroup: Book
Binding: Paperback

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Birds of Belize (Corrie Herring Hooks Series)
Belize Map by International Travel Maps

ASIN: 0126627606

Book Description

A Guide to the Reptiles of Belize provides a complete guide to the environment, biogeography, and natural history of this country. It details the local variations, distribution, and ecology of Belize's reptiles and amphibians. This volume includes useful identification keys, numerous diagrams and line drawings, and over 180 lavish color photographs clearly documenting nearly every species. This colorful guide to the scaly denizens of Belize will appeal to anyone planning a Central American visit as well as anyone generally interested in herpetology. The book includes a comprehensive section on snake bites with up-to-date information on first aid and treatment. A Guide to the Reptiles of Belize will be an indispensable resource for anyone interested in reptiles, especially those of Belize or any other Central American locale in a format suitable for a hiker's daypack.

Key Features
* Complete hand-size reference to crocodiles, turtles, lizards, and snakes in Belize
* Provides numerous drawings, diagrams, and over 180 color photographs representing 113 species
* Gives identification keys for all species
* Includes a detailed section on snake bites with up-to-date information on first aid, use of antivenom, and clinical treatment

Book Description

This books objective is to tackle the new challenges companies face with the use of the internet by documenting the consequences of mismanaged reputation online and offering practical guidelines for the implementation of new reputation management strategies.

Chapter 11 Theory and Practice: A Guide to Reorganization
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Chapter 11 Theory and Practice: A Guide to Reorganization
Ingrid Michelsen Hillinger (Editor), James F. Queenan (Editor) Philip J. Hendel (Editor)
Manufacturer: lrp pub
ProductGroup: Book
Binding: Ring-bound
ASIN: B000JWBQ7K

Product Description

Chapter 11 Theory and Practice: A Guide to Reorganization will keep you up to date on this everchanging area of law. Written by only the most influential judges, attorneys and professors, this 8-volume set provides you with a unique combination of legal analysis and practical guidance. Instead of being organized by Code Section, Chapter 11 Theory and Practice: A Guide to Reorganization logically takes you step-by-step through the reorganization process by topic. It includes coverage on partner and partnership bankruptcies, trustees and examiners, tax considerations, practical prefiling considerations, environmental issues and multinational insolvencies

Chapter 11 Theory and Practice: A Guide to Reorganization (Bankruptcy Law Series)

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Chapter 11 Theory and Practice: A Guide to Reorganization (Bankruptcy Law Series)

Manufacturer: Lrp Pubns
ProductGroup: Book
Binding: Hardcover

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Book Description

This title explores the growing concept of relationship marketing, defined as the process of creating, maintaining, and enhancing strong, value-laden relationships with customers and other stakeholders. Relationship Marketing explores the concept in theory and practice for use in the e-commerce era. The book offers an understanding of relationship marketing as a business strategy within a framework that integrates marketing, e-commerce, corporate communications, and knowledge management.

Download Description

"Relationship Marketing: Dialogue and Networks in the E-Commerce Era is based on ten years of consulting experience and academic study. The unique contribution of this book is the particular and careful emphasis on the understanding of human trading relationships as central to relationship marketing. Contemporary Relationship Marketing is explained as a business strategy within a management framework that integrates marketing, e-commerce, corporate communication, and knowledge management. A reconsideration of relationship marketing in the light of recent innovative thinking and the emerging new economy presents the other side of the coin - communication as the mode of inter-action, and relationships as the shared context for meaning-making. This book develops the management framework for responsive and responsible communicative interaction in an integrated corporate management system. The question of information & communication technology (ICT) as enabler and facilitator of Relationship Marketing is addressed, using a varied range of case studies to illustrate developments in principle, policy, and practice. This title is particularly relevant for students taking advanced undergraduate, MBA and MSc courses on relationship marketing, marketing management and service management.

Book Description

Despite the negative press Asian economies have received in connection with the recent financial crisis, their record of spectacular growth over the past few decades remains irrefutable. In an effort to provide a rich, textured analysis of these economies, editor W. Mark Fruin presents a collection of essays that explores the wide range of network organizations that have been established in the Pacific Rim. Conventional studies of economic organization have tended to center on markets and hierarchies, the two forms of organization most common in the West. But today the world moves too quickly and too unpredictably for the idealized organizations of microeconomic theory to keep up. It is no accident that the region that has generated the world's most explosive economic growth is also the region where network organizations--sets of independent actors who cooperate frequently for mutual advantage--are most pervasive. Rapid economic, social, and technical changes favor the formation of network organizations, and vice versa. The contributors to this volume identify and elucidate four basic types of networks: naturally occurring networks, market replacing networks, hierarchy replacing networks, and market enhancing networks. They show how all of these have been shaped by the history, government, legal system, and culture of each country under consideration. These network organizations allow the authors to compare and contrast network forms in China, Japan, South Korea, Taiwan, and the United States according to features such as degrees of formalization, rule definition, and market conformance. The works collected here make an important contribution to a networks-markets- hierarchies framework that recognizes and emphasizes the diversity of organizational forms and behaviors. A unique resource for scholars and professionals in the fields of management and economics, this book enables a complex analysis of one of the world's fastest growing and most theoretically challenging regions.

Book Description

Anthony Ellison cuts through conventional neo-classical interpretations to expose the indispensable contribution of entrepreneurs in driving the market process and, in particular, in accomplishing the deregulation of the transportation, trade, telecommunications and financial regimes both in North America and across the globe. Entrepreneurs have an important role in any economy, but in this seminal study, the author argues that they have played a crucial part in shaping the contemporary global market. Entrepreneurs and the Transformation of the Global Economy situates the emergence of the contemporary global market economy within an historical context.

The author reviews the rival interpretations of the global impacts of the surging market economy and is particularly critical of previous Marxist interpretations. His examination of the deregulation of the North American airline industry and the re-design of its organizational infrastructure serves to illustrate the potential of the neo-institutional approach in economic analysis and is intended to offer a more meaningful alternative.

This book will be of interest to academics and researchers of public sector economics, globalization and deregulation as well as transport economists.

Panama Business and Investment Opportunities Yearbook (World Country Study Guide Library)
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Panama Business and Investment Opportunities Yearbook (World Country Study Guide Library)

Manufacturer: Intl Business Pubns USA
ProductGroup: Book
Binding: Paperback

Exports & Imports | Economics | Business & Investing | Subjects | Books
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ASIN: 0739777122

Panama Foreign Policy and Government Guide
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Panama Foreign Policy and Government Guide
Global Investment & Business Inc
Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Paperback

Relations | International | Politics | Nonfiction | Subjects | Books
ASIN: 0739738305

Book Description

Basic information on foreign and domestic policy, national security, political system, parties and elections, government and administrative structure. Participation in international organizations, treaties and regional unions. International and foreign policy and more.

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Panama Investment & Business Guide
Emerging Markets Investment Center
Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Paperback
ASIN: 0739703277

Book Description

This investment guide contains basic information on economy, business, export-import and investment climate, opportunities, regulations. Provides strategic information on economy, industrial development, banking, and government. Includes information on the most important business contacts and business travel. Updated annually.

Panama Investment & Business Guide (World Investment and Business Library)

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Panama Investment & Business Guide (World Investment and Business Library)
USA International Business Publications
Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Paperback
ASIN: 0739718290

Book Description

This investment guide contains basic information on economy, business, export-import and investment climate, opportunities and regulations. Provides strategic information on economy, industrial development, banking, and government. Includes information on the most important business contacts and business travel. Updated annually.

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Panama Investment and Business Guide

Manufacturer: International Business Publications, USA
ProductGroup: Book
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General | Popular Economics | Business & Investing | Subjects | Books

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Panama Offshore Investment and Business Guide (World Offshore Investment and Business Library)

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Panama Offshore Investment and Business Guide (World Offshore Investment and Business Library)

Manufacturer: International Business Publications, USA
ProductGroup: Book
Binding: Library Binding

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ASIN: 073973928X

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Panama Investment and Business Guide
Ibp USA
Manufacturer: NY
ProductGroup: Book
Binding: Paperback
ASIN: B000N7KNMA

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