Within the last ten years there have been many published and unpublished contributions on how to apply Malliavin calculus in the context of mathematical finance. The purpose of this paper is on one side to give the mathematical background for the application of Malliavin calculus in the framework of the Heston stochastic volatility model, and on the other side to provide an applicable formula f...

Using the Malliavin calculus, we give a uniied treatment of the so-called perturbation analysis of dynamic systems. Several applications are also given.