期权定价原理的数理逻辑探析

Approaching Mathematical Logic of the Option Pricing Principles

对股票期权定价原理中的数理逻辑方面的思路进行详细的剖析 ,从随机偏微分方程途径与概率论途径两个角度仔细描述了期权定价过程中 ,每个具体的主要演进步骤。文中内容以一盖全地揭示出现代金融理论在估计金融创新工具价值方面 ,先进的数学技术是如何发挥有效作用的。我们以欧式看涨期权为例 ,分析Black -Scholes定价思路中的数理逻辑的演绎过程。

A detailed investigation into the option pricing process is presented in this paper from the angle of mathematical deduction. Every deductive reasoning procedure in both stochastic partial differential equation approach and probabilistic approach are described. The paper also reveals generally that how the mathematical techniques are applied to modern financial theories, especially to the valuation of derivatives. The author take European call option as the example, dissecting the conventional assumptions in Black-Scholes formulation.