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:
“To see ourselves as others see us can be eye-opening. To see others as sharing a nature with ourselves is the merest decency. But it is from the far more difficult achievement of seeing ourselves amongst others, as a local example of the forms human life has locally taken, a case among cases, a world among worlds, that the largeness of mind, without which objectivity is self- congratulation and tolerance a sham, comes.”
—Clifford Geertz (b. 1926)
Related Phrases
Related Words