The Book of the Market

Elie Ayache

Chapter 15 in The Medium of Contingency, 2015, pp 321-350 from Palgrave Macmillan

Abstract: Abstract There is a whole new science of interpretation, or of the passage between formalism and matter, that is to be learned from how BSM has produced the options market as a new matter — not one that translates the content of the model, but that is layered over its form. BSM never described an options market; however, it was used, as form (almost as empty form), to create and to make the options market.

Keywords: Brownian Motion; Option Price; Implied Volatility; Contingent Claim; Martingale Measure (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-28656-7_16

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DOI: 10.1007/978-1-137-28656-7_16

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