Many software reliability growth models assume that the time to next failure may be infinite; i.e., there is a chance that no failure will occur at all. For most software products this is too good to be true even after the testing phase. Moreover, if a non-zero probability is assigned to an...

The Finite Element Method is a well-studied and well-understood method of solving partial differential equations. Its applicability to financial models formulated as PDEs is demonstrated. Its advantage concerning the computation of accurate "Greeks" is delineated. This is demonstrated with...