amazing book, by far the best rigorous introduction on the subject
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This is an excellent book, precise, rigorous and damn interesting.
Although I would recommend a good mathematical background almost all you need is included and some more advanced optional chapters are here to statisfy the mathematically inclined reader.
There are a few typos in the book, but nothing an attentive reader couldn't correct immediatly so it doesn't spoil any of it.
If you are looking for an introduction to modern financial maths, this is THE title to get.
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The only "interesting" one in this area
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This book is highly recommended by my professer and past students. It covers everything you need to know about financial application of stocastical method. And the most important point is, this book is interesting!
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A very good book to understand derivatives pricing
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The book by T. Bjork illustrates how to price derivatives, and how term structure models work. It applies a consistent and modern approach to this tasks, starting by explaining the maths which is required to understand modern finance (without using a purely mathematical perspective) and moving on to illustrate pricing problems in order of difficulty. The author explains all the main models (Black and Scholes, Black, Vasiceck, CIR, etc.) and the main approaches to pricing (risk neutral pricing and change of numeraire techniques). Used in conjuction with Hull (which is a very good introduction) this book can really alow one to understand the foundations of modern financial theory without going into abstract mathematical models.
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