Multigrid for American option pricing with stochastic volatility

The paper describes an implicit finite difference approach to the pricing of American options on assets with a stochastic volatility. A multigrid procedure is described for the fast iterative solution of the discrete linear complementarity problems that result. The accuracy and performance of this approach is improved considerably by a strike-price related analytic transformation of asset prices and adaptive time-stepping.

[Book Review] A database of North American tertiary mammals

Review of: Janis, C.M., Scott, K.M., & Jacobs, L.L. (eds.) 1998. Evolution of Tertiary Mammals of North America Volume 1: Terrestrial Carnivores, Ungulates, and Ungulatelike Mammals, i-x, 1491. Cambridge University Press, Cambridge, UK. £165

Tennyson and youth

This paper will examine the prominence of Alfred Tennyson's work in several textual accounts of youth penned between 1892 and the present day, by writers including T. S. Eliot, Virgina Woolf, Joseph Conrad, James Joyce, Kingsley Amis, J. M. Coetzee, William Faulkner and Andrew Motion. The young Woolf broke in her new pens by copying out Tennyson's 'Tithonus'; Eliot had a taste for Tennyson's 'martial and sanguinary poetry; as a young man. Kingsley Amis was singular among his contemporaries precisely because he admired the work of a poet considered outdated, and a reference for Modernist verse over that of Tennyson is seen as a sign of sophistication (however ironically presented) in the writings of people as diverse as Auden, Motion and Coetzee. [From the Author]