Arkadev Chatterjea – författare

Written by two of the most distinguished finance scholars in the industry, this introductory textbook on derivatives and risk management is highly accessible in terms of the concepts as well as the mathematics.With its economics perspective, this rewritten and streamlined second edition textbook, is closely connected to real markets, and: Shows how macroeconomic forces have shaped the markets;Explains the major derivative pricing models using algebra and introductory calculus;Shows students how to implement these models using basic statistics and elementary Excel spreadsheet skills;Discusses the uses of derivatives while warning against their abuses;Presents hard-to-teach interest rate derivatives in an intuitive manner;Presents the Heath–Jarrow–Morton model, which is the most advanced derivatives pricing model, in an accessible manner by presenting it side-by-side with classical option pricing theory;Beginning at a level that is comfortable to lower division college students, the book gradually develops the content so that its lessons can be profitably used by business majors, arts, science, and engineering graduates as well as MBAs who would work in the finance industry.

The third edition updates the text in two significant ways. First, it updates the presentation to reflect changes that have occurred in financial markets since the publication of the 2nd edition. One such change is with respect to the over-the-counter interest rate derivatives markets and the abolishment of LIBOR as a reference rate. Second, it updates the theory to reflect new research related to asset price bubbles and the valuation of options. Asset price bubbles are a reality in financial markets and their impact on derivative pricing is essential to understand. This is the only introductory textbook that contains these insights on asset price bubbles and options.