Denouement: The Theory after the Two Narratives

Elie Ayache

Chapter 16 in The Medium of Contingency, 2015, pp 351-362 from Palgrave Macmillan

Abstract: Abstract Einstein once built a theory by postulating that the speed of light was the same in all frames of reference. I propose to build a theory of the market in which the price of the underlying, and the price of the derivative, although numerically different, are of the same nature.

Keywords: Brownian Motion; Stochastic Volatility; Implied Volatility; Price Process; Contingent Claim (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-1-137-28656-7_17

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