On the probability of chaos in large dynamical systems: a Monte Carlo study

Article Abstract:

A study used Monte Carlo methods to investigate on the likelihood of chaotic solutions being exhibited in large, discrete time, dynamical systems represented by neural networks. It has been hypothesized that complex emergent systems evolve toward a transition between ordered and chaotic behavior. The findings in this study can be interpreted to suggest that evolution is not essential, but that such behavior is inherent in the system itself as its complexity increases.

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European option pricing and hedging with both fixed and proportional transaction costs

Article Abstract:

A study on European option pricing and simulation of a hedging strategy in a market with transaction costs that are fixed and proportional, using Markov chain approximation, is presented.

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Approximating payoffs and pricing formulas

Article Abstract:

Madan and Milne's ideals were used to examined the optimality of polynomial approximations in pricing securities.

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