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 among the novelists

Until now, the study of literary allusion has focused on allusions made by poets to other poets. In Tennyson Among the Novelists, John Morton presents the first book-length account of the presence of a poet’s work in works of prose fiction. As well as shedding new light on the poems of Tennyson and their reception history, Morton covers a wide variety of novelists including Thomas Hardy, James Joyce, Evelyn Waugh, and Andrew O’Hagan, offering a fresh look at their approach to writing. Morton shows how Tennyson’s poetry, despite its frequent depreciation by critics, has survived as a vivifying presence in the novel from the Victorian period to the present day.

Elif Şafak in conversation with Alev Adil: What do women novelists really want?

Two prolific novelists talked about their work, the work they admire and the role of women in the European literary scene.