宾汉姆的这本《风险中性定价(第2版)》是一部讲述风险中性评估理论的金融实践应用教材。风险中性评估原理起源于十九世纪八十年代引入，已经发展成为研究金融衍生品定价和对冲的重要工具。书中内容自称体系，讲述中性定价背后的概率论知识及其在定价理论和金融衍生品套利中的应用。从概率的角度，离散和连续时间随机过程都给予充分的考虑。前六章为现代随机金融的基础和一般原理奠定了基础，与第一版相比，更加全面和完善。为了将最新的发展结果囊括其中，第七、八章重新安排和扩充讲述了不完全市场和利率理论，新添加了第九章讲述信用风险模型。

Preface to the Second Edition

Preface to the First Edition

Derivative Background

 1.1 Financial Markets and Instruments

1.1.1 Derivative Instruments

1.1.2 Underlying Securities

1.1.3 Markets

1.1.4 Types of Traders

1.1.5 Modeling Assumptions

 1.2 Arbitrage

 1.3 Arbitrage Relationships

1.3.1 Fundamental Determinants of Option Values

1.3.2 Arbitrage Bounds

 1.4 Single-period Market Models

1.4.1 A Fundamental Example

1.4.2 A Single-period Model

1.4.3 A Few Financial-economic Considerations

 Exercises

2 Probability Background

 2.1 Measure

 2.2 Integral

 2.3 Probability

 2.4 Equivalent Measures and Radon-Nikod~m Derivatives

 2.5 Conditional Expectation

 2.6 Modes of Convergence

 2.7 Convolution and Characteristic Functions

 2.8 The Central Limit Theorem

 2.9 Asset Return Distributions

 2.10 Infinite Divisibility and the L~vy-Khintchine Formula

 2.11 Elliptically Contoured Distributions

 2.12 Hyberbolic Distributions

 Exercises

3.Stochastic Processes in Discrete Time

 3.1 Information and Filtrations

 3.2 Discrete-parameter Stochastic Processes

 3.3 Definition and Basic Properties of Martingales

 3.4 Martingale Transforms

 3.5 Stopping Times and Optional Stopping

 3.6 The Snell Envelope and Optimal Stopping

 3.7 Spaces of Martingales

 3.8 Markov Chains

 Exercises

4.Mathematical Finance in Discrete Time

 4.1 The Model

 4.2 Existence of Equivalent Martingale Measures

4.2.1 The No-arbitrage Condition

4.2.2 Risk-Neutral Pricing

 4.3 Complete Markets: Uniqueness of EMMs

 4.4 The Fundamental Theorem of Asset Pricing: Risk-Neutral Valuation

 4.5 The Cox-Ross-Rubinstein Model

4.5.1 Model Structure

4.5.2 Risk-neutral Pricing

4.5.3 Hedging

 4.6 Binomial Approximations

4.6.1 Model Structure

4.6.2 The Black-Scholes Option Pricing Formula

4.6.3 Further Limiting Models

 4.7 American Options

4.7.1 Theory

4.7.2 American Options in the CRR Model

 4.8 Further Contingent Claim Valuation in Discrete Time

4.8.1 Barrier Options

4.8.2 Lookback Options

4.8.3 A Three-period Example

 4.9 Multifactor Models

4.9.1 Extended Binomial Model

4.9.2 Multinomial Models

 Exercises

5.Stochastic Processes in Continuous Time

6.Mathematical Finance in Continuous Time

7.Incomplete Markets

8.Interest Rate Theory

9.Credit Risk

A.Hilbert Space

B.Projections and Conditional Expectations

C.The Separating Hyperplane Theorem

Bibliograpy

Index