摘要
Abstract
Great attention has been put into option pricing,among all these perspectives,the most famous one is Black-Scholes option pricing model which was introduced by Fisher Black and Myron Scholes in 1973.Based on a series of hypotheses,this model presented a partial differential equation about the asset price S at time t.Furthermore,it worked out the solution to the PDE through several transformations of unknown variables,namely the Black-Scholes Formula.This model has been applied into the real world gradually,and many innovative kinds of options appear,which positively affect the prosperity and stability of financial market.Considering the initial phase of the development of the financial derivatives market in China,it is essential to give some explanations of Black-Scholes option pricing model.关键词
欧式期权/Black-Scholes期权定价模型/偏微分方程/金融衍生工具Key words
Europeanoption/Black-Scholes option pricing model/partial differential equation/financial derivatives分类
管理科学
