🔬 condensed matter
Derivation of the General Solution of the Black-Scholes Boundary-Value Problem
This paper argues that the Black-Scholes formula is not the unique solution to the corresponding boundary-value problem, as infinitely many functions satisfy the partial differential equation and terminal condition, thereby challenging the law of one price.
Original paper licensed under CC BY 4.0 (http://creativecommons.org/licenses/by/4.0/). This is an AI-generated explanation of the paper below. It is not written or endorsed by the authors. For technical accuracy, refer to the original paper. Read full disclaimer
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