merton engineering document

May 15th, 2015
Studypool Tutor
Price: $30 USD

Tutor description

solutions to engineering are here in this document will help in all fields in engineering

Word Count: 6666
Showing Page: 1/13
Finance and the Role of Financial Engineering in the 21st CenturyRobert C. MertonDecember 12-13, 20011IntroductionI am privileged to take part in this consequential Symposium on nancial engineering,which celebrates the creation of the Research Center of Financial Engineering at the Instituteof Economic Research and the development of the nancial engineering program at thedepartment of Economics at Kyoto University. I thank Kyoto University for inviting me,and thank the Nikkei for its support. That the Center is established at Kyoto University hasspecial signicance both for me and for the nancial engineering profession at large. Thegreat Japanese mathematician Kiyoshi Ito has been a faculty member of Kyoto University formore than 40 years: 20 years as a senior professor and the balance to this day in an emeritusrole. Thirty years ago, I introduced his stochastic calculus into economics as an arcane butessential mathematical tool to develop my continuous-time theory of nance. Indeed, it wasItos calculus that I used to demonstrate the existence of a dynamic portfolio strategy thatreplicates the payos to an option, my core contribution to the Black-Scholes option-pricingmodel. Today, every student of nance knows his name. Knowing Itos calculus is requiredtraining for all nancial engineers.This afternoon I will address prospectively the practice of nance and the science ofnancial engineering as we move into the 21st

Review from student

Studypool Student
" Friend recommended me, and managed to get a slight discount. Great work from the tutor and had no issues with plagiarism, which I was super worried about. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1819 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors