Today´s derivative pricing base on stochastic models developed in the 70´s. These models base on some unrealistic assumptions. The system Warrant Pro 1 presented here combines the software agent PISA (Partially Intelligent Software Agent) and the neurosimulator FAUN (Fast Approximation with...

Some current research of derivative pricing is dedicated to artificial neural networks to generate market prices (see Breitner (2000 and 2001)) instead of analytical prices developed by Black, Scholes and Merton (1973) or Cox, Ross and Rubinstein (1979). Needed data are usually taken from...

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Today´s derivate pricing base on stochastic models developed in the 70´s. These models base on some unrealistic assumptions. The system WARRANT PRO 1 presented here combines the software agent PISA (Partially Intelligent Software Agent) and the neurosimulator FAUN (Fast Approximation with...