Finance & Investing · Derivatives
Credit Default Swaps
A topic within Derivatives, itself one of 10 topics in that field and part of Finance & Investing.
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- PaperThe Pricing of Options and Corporate LiabilitiesFischer Black & Myron Scholes, 1973· 18 pages
An option can be priced by constructing a continuously rebalanced hedge, which removes preferences from the valuation entirely.