Risk Quantification - Early History of Option Pricing
AbstractThe article reminds of the world of futures contracts closed between subjects in the Austrian-Hungarian economic space in the period of ca. 1986-1914; an approach to the pricing of option contracts more than 100 years ago is elucidated. The form of a phenomenon of that time that will be called call-put parity in the future is explained. The author describes the procedure of option contract pricing in the form as it was known to our ancestors; this is the reason why he does not use mathematically formalised notation that was developed later.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Acta Oeconomica Pragensia.
Volume (Year): 2005 (2005)
Issue (Month): 1 ()
Postal: Redakce Acta Oeconomica Pragensia, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- G19 - Financial Economics - - General Financial Markets - - - Other
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
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