Recent progress in the development of efficient computational algorithms to price financial derivatives is summarized. A first algorithm is based on a path integral approach to option pricing, while a second algorithm makes use of a neural network parameterization of option prices. The accuracy...

This paper introduces an overlapping generations model of the principal-agent problem. all individuals are workers when young, but have a choice between becoming entrepreneurs or remaining workers when old. Bargaining power and incentive contracts in the principle-agent relationships are...