Handbooks in Operations Research and Management Science: Fina... - 9780444517814

Handbooks in Operations Research and Management Science: Financial EngineeringAuthor(s): John R. Birge, Vadim Linetsky\nFormat: Hardback\nPublisher: Elsevier Science & Technology, United Kingdom\nImprint: Elsevier Science Ltd\nISBN-13: 9780444517814, 978-0444517814\nSynopsis\nThe remarkable growth of financial markets over the past decades has been accompanied by an equally remarkable explosion in financial engineering, the interdisciplinary field focusing on applications of mathematical and statistical modeling and computational technology to problems in the financial services industry. The goals of financial engineering research are to develop empirically realistic stochastic models describing dynamics of financial risk variables, such as asset prices, foreign exchange rates, and interest rates, and to develop analytical, computational and statistical methods and tools to implement the models and employ them to design and evaluate financial products and processes to manage risk.