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:
“Back now to autumn, leaving the ended husk
Of summer that brought them here for Show Saturday
The men with hunters, dog-breeding wool-defined women,
Children all saddle-swank, mugfaced middleaged wives
Glaring at jellies, husbands on leave from the garden
Watchful as weasels, car-tuning curt-haired sons
Back now, all of them, to their local lives....”
—Philip Larkin (1922–1986)
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