It will also allow some academics currently teaching undergraduate and mba derivatives courses to confirm or challenge their own often intuitive understanding of pricing hedging and arbitragethe text is worth buying for the notes to chapter 1 alone the journal of finance research. Lars tyge nielsen is the director of columbia universitys mathematics of finance ma program he was a chaired professor of international banking and finance he is the author of pricing and hedging of derivative securities published by oxford university press. The theory of pricing and hedging of derivative securities is mathematically sophisticated this book is an introduction to the use of advanced probability theory in financial economics presenting the necessary mathematics in a precise and rigorous manner. Pricing and hedging of derivative securities some effects of asymmetric information and market power by alexander stremme london school of economics and political science thesis submitted in partial fulfillment of the requirements of the degree of doctor of philosophy at the university of london january 1999. The theory of pricing and hedging of derivative securities is mathematically sophisticated this book is an introduction to the use of advanced probability theory in financial economics presenting the necessary mathematics in a precise and rigorous manner