A Black - Scholes Schr ! odinger option price : ‘ bit ’ versus ‘ qubit ’
نویسنده
چکیده
The celebrated Black-Scholes di.erential equation provides for the price of a 0nancial derivative. The uncertainty environment of such option price can be described by the classical ‘bit’: a system with two possible states. This paper argues for the introduction of a di.erent uncertainty environment characterized by the so called ‘qubit’. We obtain an information-based option price and discuss the di.erences between this option price and the classical option price. c © 2002 Elsevier Science B.V. All rights reserved.
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