From HSIF gambling to Merton's Continue-Time Finance
2 years ago, I was gambling on HSIF ( mini HSIF actually ). Last week, I bought a book from the Noble Price winner R.C. Merton - Continue Time Finance. Frankly, I am very willing to buy it. Although what in my mind is still only want to take a look on the book of a famous prize winner, I am very willing to paid the 35 quids. Once I open the book, I become humble. How can a person can achieve such completeness of a field? After reading the first chapter, I totally agree his ideology on how should the modern finance develop. Very challenging! Even more challenging than flying a Boeing!!! His book is something not easy to understand. May be my english level is still low, but everyone should agree his contribution toward modern finance and his thorough idea about arangement of chapters. From agent's choice, discrete time cases, transit to continue time. Once the agent's choice about portfolio and comsuptions developed, the focus then on the option pricing ( again from discrete towa...