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
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“The country is fed up with children and their problems. For the first time in history, the differences in outlook between people raising children and those who are not are beginning to assume some political significance. This difference is already a part of the conflicts in local school politics. It may spread to other levels of government. Society has less time for the concerns of those who raise the young or try to teach them.”
—Joseph Featherstone (20th century)
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