Fuzzy Options with Application to Default Risk Analysis for Municipal Bonds in China
نویسنده
چکیده
Contrast to identical rationality, non-identical rationality is laid as the basis for option pricing, realized by a family of non-additive fuzzy measures mathematically, which naturally induces the new concept and analyzing methods, fuzzy options. Then as demonstration, the paper applies the fuzzy options to default risk analysis for municipal bonds in China.
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