Related papers: Interest prohibition and financial product innovat…
We analyze how retail investors price the credit risk of online P"P consumer loans in a reverse auction framework where personal interaction is absent. The explained interest rate variance is considerably larger than in comparable studies…
The goal of this note is to illustrate the impact of a self-financing condition recently introduced by the authors. We present the analyses of two specific applications usually considered in more traditional models in financial mathematics.…
The option is a financial derivative, which is regularly employed in reducing the risk of its underlying securities. However, investing in option is still risky. Such risk becomes much severer for speculators who utilize option as a means…
In last years, we hear about halal products in non- Muslim societies including European and American ones. In France, for example, sales of halal products sold in stores during the year 2010, increased 23 % and represented 5.5 billion…
The use of the trading halts is a practice common to all markets. However, the advantages and the disadvantages of the measurements are regularly discussed. The partisans think that the trading suspensions or the price limits make it…
This paper enhances the pricing of derivatives as well as optimal control problems to a level comprising risk. We employ nested risk measures to quantify risk, investigate the limiting behavior of nested risk measures within the classical…
Focusing on different economic instruments implemented in intersection operations under a connected environment, this paper analyzes their advantages and disadvantages from the travelers' perspective. Travelers' concerns revolve around…
Financial inclusion is a longstanding concern across underdeveloped communities, particularly for women. However, there are limited data-driven measures to first quantitatively identify such concerns and second to inform policies. In this…
At present, there is an explosion of practical interest in the pricing of interest rate (IR) derivatives. Textbook pricing methods do not take into account the leptokurticity of the underlying IR process. In this paper, such a leptokurtic…
The rapid dissemination of information through digital platforms has revolutionized the way we access and consume news and information, particularly in the realm of finance. However, this digital age has also given rise to an alarming…
The entry of new technological infrastructures into the financial markets poses serious concerns about the misuse of the economic system for illicit purposes, such as money laundering and financing of terrorism. Although there are cases in…
The paper has been withdrawn by authors. The issues studied in this paper were changed so much that we have published a new paper considering these issues. See hep-th/0406074
This is a short position paper drawing on experience working with the UK banking industry and their disabled and ageing customers in the Business Disability Forum, a UK non-profit member organisation funded by a large body of UK private and…
Estimating the influence of religion on innovation is challenging because of both complexness and endogeneity. In order to untangle these issues, we use several measures of religiosity, adopt an individual-level approach to innovation and…
The recent proliferation of Electronic Commerce (E-commerce) has been further escalated by multifaceted emerging payment solutions such as cryptocurrencies, mobile, peer-to-peer (P2P) and social media payment platforms. While these…
In the past decades, advanced probabilistic methods have had significant impact on the field of finance, both in academia and in the financial industry. Conversely, financial questions have stimulated new research directions in probability.…
In this era of computers and communication technology where computers and internet have made their ways to every sphere of life from offices to residences, reservation counters to banks to post offices, small retail shops to big…
Game (Israeli) options in a multi-asset market model with proportional transaction costs are studied in the case when the buyer is allowed to exercise the option and the seller has the right to cancel the option gradually at a mixed (or…
The development of digital humanities has opened new perspectives in the history of Islam: whether dealing with thin or sometimes vast source corpora (such as S\=ira, al-Tbar\=i, al-Dahab\=i, etc.), these tools allow us to approach texts…
This article provides a list of counterexamples, where some of the popular fx option interpolations break down. Interpolation of FX option prices (or equivalently volatilities), is key to risk-manage not only vanilla FX option books, but…