We provide a simple binomial framework to value American-style derivatives subject to trading restrictions. The optimal …

barrier options and capped options, (ii) multiasset derivatives, (iii) occupation time derivatives and (iv) claims whose …

funds. Most mutual funds using derivatives do so to a very limited extent that has little discernable impact on returns …. However, there exist two types of funds that make more extensive use of derivatives, global funds and specialized domestic … employing derivatives sparingly or not at all. We find evidence that fund managers time their use of derivatives in response to …

default. Therefore, it may be worth considering policies that will reward anyone who completes his or her program. On the … of default for students attending private schools. Relatively easy access to loans could be an invitation for private …

derivative securities. The modification imposes the martingale property on the simulated sample paths of the underlying asset … price. This procedure is referred to as the empirical martingale simulation (EMS). The EMS ensures that the price estimated … simulation de Monte Carlo. La modification impose la propriété de martingale aux trajectoires simulées de la variable d'état sous …