A local volatility model, in mathematical finance and financial engineering, is one which treats volatility as a function of the current asset level and of time .
Read more about Local Volatility: Formulation, Development, Use
Famous quotes containing the word local:
“These native villages are as unchanging as the woman in one of their stories. When she was called before a local justice he asked her age. “I have 45 years.” “But,” said the justice, “you were forty-five when you appeared before me two years ago.” “Señor Judge,” she replied proudly, drawing herself to her full height, “I am not of those who are one thing today and another tomorrow!””
—State of New Mexico, U.S. public relief program (1935-1943)
Related Phrases
Related Words