Welcome to a non-Black-Scholes world

1 January 2001

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This article was originally published in Journal of Quantitative Finance Vol 1, Issue 5, 2001. Access the online journal here.

Jean-Phillipe Bouchaud and Marc Potters, citing option markets and risk awareness, challenge the view that the Black-Scholes model needs little improvement - in fact, it should be seen as a special case of a more general theory.

Authors

Jean-Philippe Bouchaud , Marc Potters