problems in quantitative finance. The combination of practice and theory supported by computational tools is reflected in the …, practitioners access to new methods for their applications. The e-book design of the text links theory and computational tools in an …

Professor of Management. Merton’s research focuses on finance theory, including lifecycle and retirement finance, optimal … portfolio selection, capital asset pricing, pricing of derivative securities, credit risk, loan guarantees, financial innovation …

innovation. To this end, we extend Boz and Mendoza (2014) by explicitly modelling the credit markets and by modifying the …