Closed form formulae for European barrier options are well known from the literature. This is not the case for American barrier options, for which no closed form formulae have been published. One has therefore had to resort to numerical methods. Using lattice models like a binomial or a...

"The acclaimed author of the influential bestseller The Black Swan, Nicholas Nassim Taleb takes a next big step with a deceptively simple concept: the "antifragile." Like the Greek hydra that grows two heads for each one it loses, people, systems, and institutions that are antifragile not only...