Embedded options in the worlds physical monies, both coin and paper, are introduced. The option value for base metal coins is presented. The various strategies for redemption by the owner and the prevention of redemption by the issuer (central banks) are discussed. The market values of gold...

Closed form formulae for European barrier options are well known from the literature. This is not the case for American barrier options, for which no closed form formulae have been published. One has therefore had to resort to numerical methods. Using lattice models like a binomial or a...

In this article we show a simple but important relationship between the put-call transformation and the put-call symmetry as well as extend the relationship to also hold for single and double barrier options. These new barrier transformations give new insight in barrier option valuation. Using...

In this paper, we demonstrate that there is an absolute physical limit on how small the smallest money unit can be, no matter how much we are able to improve our technology. The smallest money unit seems to be directly linked to the smallest possible energy unit needed to store one bit. If the...

Every physicist and most non-physicists have heard that no object or signal can move faster than the speed of light in a vacuum c. However, when we study the literature on Einstein's special relativity theory carefully, we will find a less well-known 2c speed limit (double light speed limit)...

Few of the politicians or central bankers could see the credit crisis coming or its large impact. And who knows when it will be over. Billions upon billions of dollars have been used to bail out financial institutions. The massive bailout packages have been defended by statements asserting that...

his paper shows that a simple and relativistic extension of Newtonian gravity, that takes into account Lorentz relativistic mass, leads to predictions that fit supernova observations of magnitude versus redshift without the need to introduce dark energy. In order to test the concept, we look at...