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An Engine, Not a CameraHow Financial Models Shape Markets$
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Donald Mackenzie

Print publication date: 2006

Print ISBN-13: 9780262134606

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262134606.001.0001

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Pricing Options

Pricing Options

Chapter:
(p.119) 5 Pricing Options
Source:
An Engine, Not a Camera
Author(s):

Donald MacKenzie

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262134606.003.0005

This chapter focuses on examining the significance and role of pricing options for stocks in stock markets in the United States, and finds that many economists and financial researchers developed different theories and models of pricing options. A. James Boness, a Ph.D. student from the University of Chicago, was one of the young researchers who simplified the assumptions of pricing options. These assumptions suggested that option traders were immune to risks and that potential returns from all stocks with options were the same. Another alternative approach to options and warrant prices involved developing a priori models and empirically extracting the determinants of these prices.

Keywords:   pricing option, economists, financial researchers

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