Explore how market valuation must abandon linearity to deliver efficient resource allocation.

What happens to risk as the economic horizon goes to zero and risk is seen as an exposure to a change in state that may occur instantaneously at any time? All a

This Gedenkschrift for Peter Carr, our dear friend and colleague who suddenly left us on March 1, 2022, was organized to honor the life and lasting contribution

This book contains contributions by the best-known and consequential researchers who, over several decades, shaped the field of financial engineering. It presen

This book examines non-Gaussian distributions. It addresses the causes and consequences of non-normality and time dependency in both asset returns and option pr