We present a framework for calibrating a pricing model to a prescribed set of option prices quoted in the market. Our algorithm yields an arbitrage-free diffusion process that minimizes the relative entropy distance to a prior diffusion. We solve a constrained (minimax) optimal control problem...

This paper deals with what we consider to be key negative elements of current globalisation processes, and examines critically the dominance of the concept of global governance as a mode of control. This draws attention fi rstly to the fact that globalisation has an intentionally political...