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An individual agent thinks that there is a high probability that the Dow Jones will have a payoff (or points) between a=10000 and b=12000 at t=1.
Design a digital option (see Figure) as a sequence of calls on the Dow that converges to a pure bet on getting $1 on the interval [10000, 12000], i.e. if the Dow lies between S ? [10000, 12000] at t=1, then the portfolio of calls pays off exactly $1. The payoff is 0 otherwise.
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It is a phrase referring to the tendency of departments to become isolated from one another in a functionally structured company.
CONCEPTS OF WORKING CAPITAL There are two concepts of Working Capital - Net working capital and Gross Working capital. 1. Gross Working Capital Gross Working capital re
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