A Benchmark Approach to Quantitative Finance

From the reviews:"The book under review introduces quantitative finance using the benchmark approach. ... It is quite a nice blend of narrative and mathematics. There are also some bigger examples which contribute nicely to the overall presentation. ... Exercises are provided at the end of each chapter. The authors even provide solutions to exercises. ... I think it could be quite useful for students, because of the first part of the book, and to practitioners, due to the exposition in the second part of the book." (Ita Cirovic Donev, MathDL, March, 2007)"This book provides an introduction to quantitative finance. ... It aims to stimulate interest in the benchmark approach by describing some of its power and wide applicability. It is intended for quantitative analysts postgraduate students, practioners in finance, economics and insurance. ... It is designed for three groups of users. Firstly, it provides useful information to financial analysts and practioners. Secondly, it aims to introduce those with a reasonable basic mathematical background. Thirdly, researchers may find the later parts of the book interesting ... ." (Klaus Ehemann, Zentralblatt MATH, Vol. 1104 (6), 2007)"The book is a rather comprehensive treatment of quantitative finance and distinguishes itself from other analogous treatments by using a novel approach that allows one to generalize various existing results and to some extent also allows one to bridge a certain gap between current and classical approaches. ... The comprehensiveness of the book is very valuable for research ... ." (Wolfgang J. Runggaldier, Mathematical Reviews, Issue 2008 d)"A comprehensive introduction to the mathematical foundations of finance. It is thorough and encyclopedic, providing a wide range of definitions and theorems that are useful in the subject. ... a valuable text for well-motivated students interested in these topics, whether they are pursuing problems within the classical framework or beyond the assumptions of the basic theory." (Gunduz Caginalp, SIAM Review, Vol. 52 (2), 2010)