This paper presents preference free derivatives pricing methodology in the representative agent framework when the aggregate wealth of economy and the underlying variable for derivative contracts follow a correlated transformed beta distributions. As an important example, the marginal...

This paper provides a general valuation method for the European options whose payoff is restricted by curved boundaries contractually set on the underlying asset price process when it follows the geometric Brownian motion. Our result is based on the generalization of the Levy formula on the...

To study and compare the Japanese vaccine policy with the policy in the UK and to discuss factors that may explain the gap in vaccine availability between the two countries.