Shin-Yun Wang

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The Black–Scholes Option pricing model (OPM) developed in 1973 has always been taken as the cornerstone of option pricing model. The generic applications of such a model are always restricted by its nature of not being suitable for fuzzy environment since the decision-making problems occurring in the area of option pricing are always with a feature of(More)
which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. Medicine is an imperfect science and practitioners rely on the best evidence available. Even when diagnosis and treatment are guided by standard procedures and protocols, uncertainty is to be expected from time to time.(More)
As an important economic index, interest rates are assumed to be constant in the Black and Scholes model (1973); however, they actually fluctuate due to economic factors. Using a constant interest rate to evaluate derivatives in a stochastic model will produce biased results. This research derives the LIBOR market model with jump risks, assuming that(More)
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