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by Alan
August 17th, 2022, 4:19 pm
Forum: Economics Forum
Topic: Proof of the invisible
Replies: 12
Views: 301

Re: Proof of the invisible

Sounds like you want something like the  Fundamental theorems of welfare economics . However, "Pareto optimality" can be far from a " solution beneficial for everyone" in your OP. For example, Elon Musk can consume all the output and that can be Pareto optimal, as taking output f...
by Alan
August 16th, 2022, 7:12 pm
Forum: Off Topic
Topic: Chatroom
Replies: 530
Views: 38237

Re: Chatroom

If memory serves me right, he was applying a pretty standard discounted expected cash flow argument to Samuelson’s lognormal stock price model to find the present value of the option. That gives you the right general shape of the resulting valuation formula, but with a risk adjusted discount rate t...
by Alan
August 13th, 2022, 4:16 pm
Forum: Off Topic
Topic: Muy Caliente - Latin Music!!
Replies: 270
Views: 77852

Re: Muy Caliente - Latin Music!!

Rodrigo Y Gabriela - Live In Japan - Tamacun
by Alan
August 13th, 2022, 4:01 pm
Forum: Politics Forum
Topic: Trump -- the last 100 days
Replies: 4528
Views: 349218

Re: Trump -- the last 100 days

Actually, the cartoonist with TDS is Garry Trudeau (Doonesbury). Too bad, I used to enjoy that one but turning relentlessly political is also boring.
by Alan
August 12th, 2022, 3:26 pm
Forum: Off Topic
Topic: Muy Caliente - Latin Music!!
Replies: 270
Views: 77852

Re: Muy Caliente - Latin Music!!

by Alan
August 12th, 2022, 3:14 pm
Forum: Off Topic
Topic: I'm a Punkrocker Yes I Am
Replies: 886
Views: 174187

Re: I'm a Punkrocker Yes I Am

List of 50 most influential UK artists in last 50 years. I've no idea who most of them are obviously. But I notice that Vivienne Westwood is in there but no Malcolm Mclaren. 
 No Freddie Mercury!
by Alan
August 10th, 2022, 2:23 pm
Forum: Book And Research Paper Forum
Topic: "Option Pricing, Risk Premium, and Arbitrage: An Argument for Volatility-Modified Risk-Neutral Prices."
Replies: 71
Views: 7031

Re: "Option Pricing, Risk Premium, and Arbitrage: An Argument for Volatility-Modified Risk-Neutral Prices."

Long version. Generally, one defines (i) a market environment; then (ii) a set of admissible trading strategies; then (iii) an arbitrage portfolio. The simplest (i) is a market with a GBM stock price S(t) plus a zero-interest-rate bond price B(t)=1. Then, (ii) are arbitrary portfolio processes: V(t...
by Alan
August 9th, 2022, 7:29 pm
Forum: Book And Research Paper Forum
Topic: "Option Pricing, Risk Premium, and Arbitrage: An Argument for Volatility-Modified Risk-Neutral Prices."
Replies: 71
Views: 7031

Re: "Option Pricing, Risk Premium, and Arbitrage: An Argument for Volatility-Modified Risk-Neutral Prices."

Long version. Generally, one defines (i) a market environment; then (ii) a set of admissible trading strategies; then (iii) an arbitrage portfolio. The simplest (i) is a market with a GBM stock price S(t) plus a zero-interest-rate bond price B(t)=1. Then, (ii) are arbitrary portfolio processes: V(t)...
by Alan
August 4th, 2022, 5:50 pm
Forum: Off Topic
Topic: Stupid question of the day
Replies: 2768
Views: 249374

Re: Stupid question of the day

What if they gave a recession and nobody came?
by Alan
August 3rd, 2022, 7:17 pm
Forum: Off Topic
Topic: is twitter for mentally ill people?
Replies: 438
Views: 75458

Re: is twitter for mentally ill people?

At this stage it is still unclear though whether the WH will disclose what movies Pelosi watched during her flight.
What happens in Taipei, stays in Taipei
by Alan
August 3rd, 2022, 7:04 pm
Forum: Politics Forum
Topic: What is democracy?
Replies: 129
Views: 42689

Re: What is democracy?



Ugly American!
veterans of 1949?
Henny Youngman Brigade -- "Take my island ... please!"
by Alan
July 25th, 2022, 2:28 pm
Forum: Politics Forum
Topic: FSU, Toby Young, Eugenics & Wilmott.com
Replies: 135
Views: 33664

Re: FSU, Toby Young, Eugenics & Wilmott.com

Yes, Mel Brooks is a comedy genius. Haven't seen an uncensored version of "Blazing Saddles" on tv for 15 years.
by Alan
July 22nd, 2022, 3:44 pm
Forum: Off Topic
Topic: Muy Caliente - Latin Music!!
Replies: 270
Views: 77852

Re: Muy Caliente - Latin Music!!

The only Shakira-Santana collaboration I know. BTW, he's not in the clip, but the (pre-recorded) background is his: