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Provides a collection of papers on mathematical finance. The primary topics are pathwise approximations of stochastic differential equations, Hedge funds, and credit derivatives. Researchers and practitioners in mathematical finance will find in this book a collection of excellent, up-to-date and mathematically rigorous presentations of some of the most advanced techniques for pricing and risk management.

Uses plain language, sophisticated mathematics and vivid examples to answer such questions as: How many patients will require admission to a hospital in two days? How widespread will influenza be in a community in two weeks? Advice on the benefits and limitations of the modelling process and model predictions is provided throughout so that the reader comes away with an understanding not only of the process but also of the practical uses (and m...