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Modeling Financial Derivatives With Mathematica (Includes CD-ROM)
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Author: William T. Shaw
List Price: $170.00
Our Price: Click to see the latest and low price
ISBN: 052159233X
Publisher: Cambridge University Press (10 December, 1998)
Edition: Hardcover
Sales Rank: 156,848
Average Customer Rating: 3.53 out of 5
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Customer ReviewsRating: 5 out of 5
Excellent Practical Tool for Financial Engineers
I found William Shaw's book fascinating when I first bought it back in 1999 and have recently gone back to it for some further insight on some complex problems in finance.
It is a well-structured book that requires a basic understanding of both quantitative finance and Mathematica before you can really get to grips with it BUT having said that the complexity that the author gets to is excellent.
I would recommend this book to anyone in University studying for a Quant-rlated finance Masters or PhD - and anyone practicing in the real world - this should be on your shelf alongisde your copy of Mathematica.
Rating: 2 out of 5
A potentially very good book with a very messy presentation.
My comments are confined to the chapters on trees and finite difference methods, because that was my primary interest in buying the book. I'll say one positive thing about this book -- it does touch on many pitfalls of pricing derivatives with numerical methods such as finite differences and trees.However my chief complaint is with the way the (very interesting and important) contect is presented -- Shaw simply contents himself with showing pages and pages of mathematica code, which is ugly and annoying to read. He doesn't even use indentations or keyword-highlighting to make the Mathematica code easier to read. What an unbelievable four-letter-word mess! Many mathematical concepts are buried within Mathematica code. A much better book would have resulted if he sat down and presented math as math rather than as Mathematica code. Very disappointing work from a writer who clearly seems to have an in-depth knowledge of finite difference methods.
Rating: 5 out of 5
Highly recommended for researchers in finance
It is highly recommended for its broad base of knowledge. People who want to do research in the field of finance must be equipped with this book.
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