Risk Quantification - Early History of Option Pricing

Měření rizika - raná historie oceňování opcí

Jaroslav Brada

Acta Oeconomica Pragensia, 2005, vol. 2005, issue 1, 36-40

Abstract: The article reminds of the world of futures contracts closed between subjects in the Austrian-Hungarian economic space in the period of ca. 1986-1914; an approach to the pricing of option contracts more than 100 years ago is elucidated. The form of a phenomenon of that time that will be called call-put parity in the future is explained. The author describes the procedure of option contract pricing in the form as it was known to our ancestors; this is the reason why he does not use mathematically formalised notation that was developed later.

Keywords: option contracts; option pricing; Prague Stock Exchange (search for similar items in EconPapers)
JEL-codes: G19 N13 (search for similar items in EconPapers)
Date: 2005
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DOI: 10.18267/j.aop.128

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