Options, Futures, and Other Derivatives - Global Edition - John C . Hull - 9781292410654 - Pearson Education

A delicate balance of mathematical sophistication
Nonessential mathematical material has been eliminated or included in end-of-chapter appendices and the technical notes on the author’s website.Concepts that are likely to be new to many readers have been explained carefully.UPDATED - Numerical examples have been included for added clarity.?Coverage of the latest market trends keeps students a breast of key financial events
Tables, charts, examples, and market data discussions have all been revisited to reflect current market conditions, including:
NEW - Overnight reference rates that will replace LIBOR at the end of 2021, and their impact on valuation models.NEW - Rough volatility models which have in the last few years been found to fit volatility surfaces (Chapter 27).NEW - Machine learning in the pricing and hedging of derivatives.NEW - The fractional Brownian motion in the discussion on Wiener processes.NEW - Changes in the regulatory environment, including Basel IV.Accompanying Deriva Gem software helps students get comfortable with the models in the text
An Options Calculator?helps students value a wide range of options.An Applications Builder enables instructors and students to build their own applications, using a variety of Excel functions. Students can explore the properties of numerical procedures and options more effectively, and instructors can design more engaging assignments around custom applications. It also includes several sample applications.A Monte Carlo simulation worksheet?illustrates how to use the simulation for valuing options.Practice-focused resources help students overcome learning obstacles
UPDATED - End-of-chapter problems help students determine whether or not they understand key ideas. Problems, which were previously based on LIBOR, have been replaced by examples based on the new reference rates or generic examples.