Option pricing: A simplified approach☆
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Our best thanks go to William Sharpe, who first suggested to us the advantages of the discrete-time approach to option pricing developed here. We are also grateful to our students over the past several years. Their favorable reactions to this way of presenting things encouraged us to write this article. We have received support from the National Science Foundation under Grants Nos. SOC-77-18087 and SOC-77-22301.
Copyright © 1979 Published by Elsevier B.V.