Binomial Models in Finance

This book describes the modelling of prices of financial assets in a simple d- crete time, discrete state, binomial framework. By avoiding the mathematical technicalities of continuous time finance we hope we have made the material accessible to a wide audience. Some of the developments and formulae appear here for the first time in book form. We hope our book will appeal to various audiences. These include MBA students,upper level under graduate students, beginning doctoral students,qu- ti...