How Long to Read Introduction to the Mathematics of Finance

How Long Does it Take to Read Introduction to the Mathematics of Finance?

It takes the average reader 2 hours and 43 minutes to read Introduction to the Mathematics of Finance by R. J. Williams

Assuming a reading speed of 250 words per minute. Learn more

Description

The modern subject of mathematical finance has undergone considerable development, both in theory and practice, since the seminal work of Black and Scholes appeared a third of a century ago. This book is intended as an introduction to some elements of the theory that will enable students and researchers to go on to read more advanced texts and research papers. The book begins with the development of the basic ideas of hedging and pricing of European and American derivatives in the discrete (i.e., discrete time and discrete state) setting of binomial tree models. Then a general discrete finite market model is introduced, and the fundamental theorems of asset pricing are proved in this setting. Tools from probability such as conditional expectation, filtration, (super)martingale, equivalent martingale measure, and martingale representation are all used first in this simple discrete framework. This provides a bridge to the continuous (time and state) setting, which requires the additional concepts of Brownian motion and stochastic calculus. The simplest model in the continuous setting is the famous Black-Scholes model, for which pricing and hedging of European and American derivatives are developed. The book concludes with a description of the fundamental theorems for a continuous market model that generalizes the simple Black-Scholes model in several directions.

How long is Introduction to the Mathematics of Finance?

Introduction to the Mathematics of Finance by R. J. Williams is 162 pages long, and a total of 40,824 words.

This makes it 55% the length of the average book. It also has 50% more words than the average book.

How Long Does it Take to Read Introduction to the Mathematics of Finance Aloud?

The average oral reading speed is 183 words per minute. This means it takes 3 hours and 43 minutes to read Introduction to the Mathematics of Finance aloud.

What Reading Level is Introduction to the Mathematics of Finance?

Introduction to the Mathematics of Finance is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Introduction to the Mathematics of Finance?

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