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 .
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Famous quotes containing the word local:
“Resorts advertised for waitresses, specifying that they “must appear in short clothes or no engagement.” Below a Gospel Guide column headed, “Where our Local Divines Will Hang Out Tomorrow,” was an account of spirited gun play at the Bon Ton. In Jeff Winney’s California Concert Hall, patrons “bucked the tiger” under the watchful eye of Kitty Crawhurst, popular “lady” gambler.”
—Administration in the State of Colo, U.S. public relief program (1935-1943)
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