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In 1908, Vinzenz Bronzin, a professor of mathematics at the Accademia di Commercio e Nautica in Trieste, published a booklet in German entitled Theorie der Prämiengeschäfte (Theory of Premium Contracts) which is an old type of option contract. Almost like Bachelier’s now famous dissertation (1900), the work seems to have been forgotten shortly after it was published. However, almost every element of modern option pricing can be found in Bronzin’s book. He derives option prices for an illustrative set of distributions, including the Normal. - This volume includes a reprint of the original German text, a translation, as well as an appreciation of Bronzin's work from various perspectives (economics, history of finance, sociology, economic history) including some details about the professional life and circumstances of the author. The book brings Bronzin's early work to light again and adds an almost forgotten piece of research to the theory of option pricing.

Bronzin, Vinzenz, 1872-1970. --- Bronzin, Vinzenz. Theorie der Prämiengeschäfte. --- Options (Finance) -- Prices. --- Finance --- Banking --- Investment & Speculation --- Finance - General --- Business & Economics --- Options (Finance) --- Prices. --- Bronzin, Vinzenz. --- Call options --- Calls (Finance) --- Listed options --- Options exchange --- Options market --- Options trading --- Put and call transactions --- Put options --- Puts (Finance) --- Finance. --- History. --- Economic history. --- Finance, general. --- Methodology/History of Economic Thought. --- History, general. --- Derivative securities --- Investments --- History of Economic Thought/Methodology. --- Annals --- Auxiliary sciences of history --- Economic conditions --- History, Economic --- Economics --- Funding --- Funds --- Currency question

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The scientific debate of recent years about option pricing with respect to fractional Brownian motion was focused on the feasibility of the no arbitrage pricing approach. As the unrestricted fractional market setting allows for arbitrage, the conventional reasoning is that fractional Brownian motion does not qualify for modeling price process. In this book, the author points out that arbitrage can only be excluded in case that market prices move at least slightly faster than any market participant can react. He clarifies that continuous tradability always eliminates the risk of the fractional price process, irrespective of the interpretation of the stochastic integral as an integral of Stratonovich or Itô type. Being left with an incomplete market setting, the author shows that option valuation with respect to fractional Brownian motion may be solved by applying a risk preference based approach. The latter provides us with an intuitive closed-form solution for European options within the fractional context.

Brownian motion processes. --- Business mathematics -- Congresses. --- Business mathematics. --- Options (Finance) -- Prices -- Mathematical models. --- Mathematics --- Physical Sciences & Mathematics --- Mathematical Statistics --- Brownian motion processes --- -Options (Finance) --- -519.233 --- 332.6453 --- Call options --- Calls (Finance) --- Listed options --- Options exchange --- Options market --- Options trading --- Put and call transactions --- Put options --- Puts (Finance) --- Derivative securities --- Investments --- Wiener processes --- Brownian movements --- Fluctuations (Physics) --- Markov processes --- Electronic information resources --- Prices --- -Mathematical models --- -Electronic information resources --- E-books --- Options (Finance) --- Mathematical models. --- Finance. --- Economics, Mathematical. --- Macroeconomics. --- Finance, general. --- Macroeconomics/Monetary Economics//Financial Economics. --- Quantitative Finance. --- Economics --- Funding --- Funds --- Currency question --- Economics, Mathematical . --- Mathematical economics --- Econometrics --- Methodology --- AA / International- internationaal --- 305.91 --- 305.6 --- Econometrie van de financiële activa. Portfolio allocation en management. CAPM. Bubbles --- Risicotheorie, speltheorie. Risicokapitaal. Beslissingsmodellen --- Social sciences --- Financial Economics. --- Macroeconomics and Monetary Economics. --- Mathematics in Business, Economics and Finance. --- Mathematics.

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Money market. Capital market --- Capital structure --- Mathematical statistics --- Quantitative methods (economics) --- Futures market --- Stock options. --- Derivative securities. --- Marchés à terme --- Options d'achat d'actions --- Instruments dérivés (Finances) --- Futures --- Stock options --- Derivative securities --- Futures. --- AA / International- internationaal --- 333.605 --- 333.451.2 --- 333.451.3 --- 333.451.4 --- 333.451.7 --- 333.647 --- 333.642 --- 333.745 --- 336.76 --- Options (Finance) --- 332.632 --- Futures contracts --- Futures trading --- Trading, Futures --- Investments --- Call options --- Calls (Finance) --- Listed options --- Options exchange --- Options market --- Options trading --- Put and call transactions --- Put options --- Puts (Finance) --- Derivative financial instruments --- Derivative financial products --- Derivative instruments --- Derivatives (Finance) --- Financial derivatives --- Securities --- Structured notes (Securities) --- Nieuwe financiële instrumenten. --- Deviezen op termijn. --- Deviezenarbitrage. --- Rente arbitrage. --- Speculatie. Wisselrisico's. --- Optiemarkt. --- Termijn. Financial futures. --- effectisering. Titrisatie. --- Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- 336.76 Beurswezen. Geldmarkt. Valutamarkt. Binnenlandse geldmarkt. Valutamarkt --- Marchés à terme --- Instruments dérivés (Finances) --- Options, Stock --- Deviezen op termijn --- Deviezenarbitrage --- Rente arbitrage --- Speculatie. Wisselrisico's --- Nieuwe financiële instrumenten --- Termijn. Financial futures --- Optiemarkt --- effectisering. Titrisatie