The spirit of now in nowcasting suggests expanding the current to include the near future. Decision theory is then developed by incorporating the consequences of actions into the present. With the future falling into the present discounting it is no longer permitted. Value functions are then...

It is argued that the growth in the breadth of option strikes traded after the financial crisis of 2008 poses difficulties for the use of Fourier inversion methodologies in volatility surface calibration. Continuous time Markov chain approximations are proposed as an alternative. They are shown...