In this paper, we use Mellin transform to get the expression for the free boundary an price of an American finite-lived option, when the underlying is govern by the Levy process. We have also derived the free boundary and price of an American perpetual put as the limit of the preceded finite-lived option. We then show how to compute the price of an American option on a basket of stocks using Me...

December 23, 2005 Abstract We consider first-best risk-sharing problems in which “the agent” can control both the drift (effort choice) and the volatility of the underlying process (project selection). In a model of delegated portfolio management, it is optimal to compensate the manager with an option-type payoff, where the functional form of the option is obtained as a solution to an ordinary ...

In this paper, we combine modern portfolio theory and option pricing so that a trader taking position in European contract, the underlying assets, risk-free bond can constru...

Distance learning programs are proving to be very popular for advancing nursing education from both a continuing education and academic degree perspective. Whether one is exploring opportunities to maintain perianesthesia certification or to pursue an advanced academic degree, distance learning technologies offer many feasible options. The following article provides prospective distance learnin...

We investigate the role of contracts in farmers’ access to credit over time using conceptual framework livelihoods and economics rural organisations. applied multi-component analysis a dataset 594 rice farms Senegal river valley, analysed changes 72 producer organisations’ funding strategies time, conducted 85 semi-directed interviews. Results show that individual participation contract farming...

aleatory contract has not been codified in iran's regulations.whereas egypt's regulations not only generally compromise aleatory contract but also give prominent examples for it. in aleatory contracts considerations are not determined, because, here, determination of a consideration is based on some factors which will be fulfilled in the future. the effect of this contract shall be es...

The paper studies a general model of hold-up in a setting encompassing the models of Segal (1999) and Che and Hausch (1999) among others. It is shown that if renegotiation is modelled as an infinite-horizon non-cooperative bargaining game then, with a simple initial contract, an efficient equilibrium will generally exist. The contract gives authority to one party to set the terms of trade and g...