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An example is used to show that efficient market expectations are not the same as expectations in a stochastic process. An implication is that efficient market expectations need not have stochastic properties like orthogonality and variance bounds. Failure to recognize this fact has led to bad...
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mathematics. The book also contains a collection of basic concepts and formulas of financial mathematics and of probability theory …Part I: Income Taxes, Lottery, and Lion Hunting—Elementary Mathematics -- 1. “We Take over Your VAT!” How Big Is the …, Prices, Yields—Classical Financial Mathematics -- 10. A Fair Deal? Or: There’s Nothing Like Starting Young -- 11. Should I …
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. functions with several variables -- 7. financial mathematics. …This elementary introduction was developed from lectures by the authors on business mathematics and the lecture … business and financial mathematics. Contents from the upper secondary school are repeated in a compact form. Numerous examples …
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