This paper is a contribution to the Proceedings of the Workshop Complexity, Metastability and Nonextensivity held in Erice 20-26 July 2004, to be published by World Scientific. We propose a generalization to Merton's model for evaluating credit spreads. In his original work, a company's assets...

We develop a numerical approximation method for valuing multivariate contingent claims. The approach is based on an n-dimensional extension of the lattice binomial method. Closed-form solutions for the jump probabilities and the jump amplitudes are obtained. The accuracy of the method is...

Principal Topic: Online auctions have emerged as a major opportunity for individuals to start businesses or for established businesses to diversify and grow their markets. To-date, research interest has focused largely on the technological entrepreneur rather than the Internet based (cyber)...

Objectives: Online auctions have emerged as a major opportunity for individuals to start businesses or for established businesses to diversify and grow their markets. To-date, research interest has focused largely on the technological entrepreneur rather than the Internet based (cyber)...