Sundaresan, S.M. - Graduate School of Business, Columbia University - 2000
I survey and assess the development of continuous-time methods in finance during the last 30 years. The subperiod 1969 … to 1980 saw a dizzying pace of development with seminal ideas in derivatives securities pricing, term structure theory …. Capital market frictions, and bargaining issues are being increasingly incorporated in continuous-time theory. …