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.

A Generic Framework for Describing Study Plans for Networked Universities using Meta-Data

This paper presents a generic framework that can be used to describe study plans using meta-data. The context of this research and associated technologies and standards is presented. The approach adopted here has been developed within the mENU project that aims to provide a model for a European Networked University. The methodology for the design of the generic Framework is discussed and the main design requirements are presented. The approach adopted was based on a set of templates containing meta-data required for the description of programs of study and consisting of generic building elements annotated appropriately. The process followed to develop the templates is presented together with a set of evaluation criteria to test the suitability of the approach. The templates structure is presented and example templates are shown. A first evaluation of the approach has shown that the proposed framework can provide a flexible and competent means for the generic description of study plans for the purposes of a networked university.

[BSHM meetings] Topics in the history of financial mathematics: early commerce to chaos in modern stock markets

This account provides an overview of the study day, entitled 'Topics in the History of Financial Mathematics: Early commerce to chaos in modern stock markets,' held by the British Society for the History of Mathematics jointly with Gresham College, at Gresham College, London on 25th April 2008. The series of talks explored the development of mathematics and mathematical techniques in a commercial and financial context.

Employee reward: alternatives, consequences and contexts

[Book Contents] Introducing Employee Reward Systems; Conceptual and Theoretical Frameworks; The Legal, Employment Relations and Market Context; Base Pay Structures and Relationships; Pay Setting, Composition and Progression; Variable Pay Schemes; Benefits; Pensions; Non-Financial Reward; Rewarding Directors and Executives; International Reward Management; Employee Reward within HRM.