{"product_id":"adaptive-methods-for-variational-inequalities-theory-and-applications-in-option-pricing-3838384571","title":"Adaptive Methods For Variational Inequalities: Theory And Applications In Option Pricing","description":"\u003cp\u003e\u003cstrong\u003eISBN:\u003c\/strong\u003e 3838384571\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eAuthor:\u003c\/strong\u003e Zhang, Chen-Song\u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eCondition:\u003c\/strong\u003e New\u003c\/p\u003e\u003cp\u003eVariational inequalities (VIs) arise from a wide range of application areas, like mechanics, control theory, engineering, and finance. One of the emerging applications of variational inequalities in finance is valuation of American-style options. An option is a derivative contract where the future payoffs to the buyer and seller of the contract are determined by the price of another security, such as a common stock or a basket of stocks. American option pricing can be formulated as an obstacle problem, a particular example of VIs. To solve time dependent variational inequalities numerically, we employ the explicit or implicit Euler method for time-discretization and the finite element method (FEM) for space-discretization with adaptive time-space mesh refinement techniques. Adaptive mesh refinement is an important tool to deal with multiscale phenomena and to reduce the size of the linear systems that arise from the discretization.\u003c\/p\u003e","brand":"Mia Karts","offers":[{"title":"Default Title","offer_id":68178376294688,"sku":"NEW3838384571","price":114.44,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0980\/7426\/3840\/files\/61seK-6yd6S.jpg?v=1794081834","url":"https:\/\/miakarts.com\/products\/adaptive-methods-for-variational-inequalities-theory-and-applications-in-option-pricing-3838384571","provider":"Miakarts Books","version":"1.0","type":"link"}